Energy Minister Stathakis on agreement for sale of 66% stake in DESFA

The agreement to sell a 66% stake in Hellenic Gas Transmission System Operator SA (DESFA) to a Snam-led consortium “is a strategic agreement that positions DESFA in the group of strong companies in Europe, defending and strengthening the public interest,” Environment and Energy Minister George Stathakis said on Thursday.

“The Samaras-Venizelos government had completed the privatization with the winning bid going to Azeri company Socar, at 400 million euros,” Stathakis said. “When that agreement was cancelled, partly because of issues of EU compliance, the present government was criticized as anti-investment, fixated on its own ideas and incompetent,” he added. With this agreement however a greater sale price was achieved and the two bidders participating were respectable consortia. In addition, he said the state retains a 34% stake in DESFA.