KLF advised HRADF on the successfully completed privatisation of DESFA S.A.
This transaction constitutes the largest privatization concluded by the Hellenic Republic Asset Development Fund (HRADF) in the year 2018 and provides for a significantly higher transaction value compared to the first privatization attempt of the same company (DESFA) in 2013, where the same participation (66%) was sold for €400m. The project had a very extensive and complex scope from the early preparatory stages of the tender up until the completion of the transaction. KLF team acted as the Legal Advisor to the HRADF (as co-Seller, along with Hellenic Petroleum S.A. (HELPE) and awarding authority) in matters of Greek law. Transaction was completed in December 2018 by means of the sale of 66% in DESFA by the Sellers against €535m to a consortium formed by Snam S.p.A., Enagas International S.L.U and Fluxys SA.