Snam-Enagas-Fluxys submit higher bid for DESFA

A consortium of Italy’s Snam, Spain’s Enagas, Belgium’s Fluxys submitted the highest bid in an international tender for the acquisition of a 66 percent stake in natural gas grid operator DESFA, Greece's privatization agency (TAIPED) said on Monday, after it unsealed the offers.

The second offer came from a consortium of Regasificadora del Noroeste S.A., Reganosa Asset Investments S.L.U., S.N.T.G.N. Transgaz S.A. and European Bank for Reconstruction and Development (EBRD).

TAIPED said it asked the highest bidder to present an improved offer which will be examined at a subsequent meeting of the agency's board and by the corporate bodies of Hellenic Petroleum (ELPE), which own a 35 percent share on the company.

No details on the size of the offers was revealed.

The asset sale is part of the country's multi-billion euro privatization program agreed with Greece's creditors.