The Hellenic Gas Transmission System Operator S.A. (DESFA) was established in 2007, as a 100% subsidiary of DEPA S.A as part of the liberalisation of the gas market.

DESFA owns, operates, maintains, manages, exploits and develops the National Natural Gas System (NNGS) and the LNG terminal located in Revythoussa island.

Following a resolution by the Governmental Council of Economic Policy (GCEP) on the 1st of March 2017, HRADF decided to proceed with a new tender for DESFA, whilst terminating the previous tender. The new tender will involve again the sale of DESFA’s 66% (31% held by HRADF and 35% held by HELPE). As per GCEP’s resolution, the remaining 34% of DESFA shares shall be transferred to the HR.

With view to the above, HRADF has appointed its financial and legal advisors for the execution of the new tender process namely Alantra Greece Corporate Advisors S.A., Alpha Bank A.E., Koutalidis Law Firm and Clifford Chance LLP.

Details of the Tender Process are described in the Invitation to Submit an Expression of Interest (“IEoI”) as posted below.