Sale of 25% in Vestmoldtransgaz to EBRD greenlighted

By bne IntelliNews July 29, 2021

The competition body in Romania cleared the sale of 25% of Vestmoldtransgaz, currently fully owned by Romania’s Transgaz, to the European Bank for Reconstruction and Development (EBRD).

The transaction consists of a capital increase for Vestmoldtransgaz to which the EBRD will contribute €20mn, according to the details disclosed by the two parties previously.

The deal was announced by the EBRD last August.

It includes a put option that allows the bank to sell back the stake to Transgaz “at a predetermined price,” according to the EBRD’s note issued at that time.

In February 2018 Transgaz took over the 100% stake put up for sale by Moldova in Vestmoldtransgaz, at that time operating the gas interconnector with Romania.

In the meanwhile, it has built the key connection toward the industrialised area around the Moldovan capital Chisinau in a €90mn project.

Transgaz started technical tests on the Iasi-Ungheni-Chisinau gas pipeline in July 2020 but no significant exports have been carried out so far. Starting this October, Russian gas exports to Moldova will use this route as opposed to crossing Ukraine, as was the case so far.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Moldova’s largest lender maib puts Bucharest exchange listing on hold

The largest bank in Moldova, Moldova Agroind Bank (main), announced it is postponing its plan to list on the Bucharest Stock Exchange (BVB) because certain provisions in Moldovan legislation make the ... more

bne IntelliNews Southeast Europe Outlook 2024

This Southeast Europe Outlook 2024 has been prepared by bne IntelliNews as part of a series of annual reviews providing updates on the geopolitical, macroeconomic and commercial state of ... more

Addiko Bank AG receives stable outlook from Fitch Ratings

Fitch Ratings has assigned Austria-based Addiko Bank AG a Long-Term Issuer Default Rating (IDR) of 'BB' and Viability Rating (VR) of 'bb' with a stable outlook. ... ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    7 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    7 days ago
  4. Don't mention the "D" word - Ukraine
    4 days ago
  5. UBN: The US Needs to Wake Up
    5 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    25 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    29 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    27 days ago
  5. Saudi Arabia to scale back plans for Neom city
    14 days ago

Reports

Dismiss