Snam, Enagás and Fluxys sign agreement to acquire Greek operator DESFA

The European consortium consisting of Snam (60%), Enagás (20%) and Fluxys (20%) signs in Athens (Greece) the agreements with the Hellenic Republic Asset Development Fund (HRADF) and Hellenic Petroleum for the acquisition of a 66% interest in DESFA, the national operator in the natural gas infrastructure sector.

The consortium was awarded in April the tender for the privatization of DESFA on the basis of an offer of 535 million euros.  The team has secured a more than 10-year non-recourse acquisition financing corresponding to approximately 65% of the enterprise value. The financing is subject to documentation and closing is expected to occur in the next few weeks.