European investors seen in pole position for DESFA stake

The executive board of Greece's privatization agency, the Hellenic Republic Asset Development Fund (TAIPED), is set to approve a short list of candidates for the acquisition of a 66 percent stake in natural gas transmission system operator DESFA.

The six international consortiums that expressed an interest in DESFA earlier this month are: Macquarie Infrastructure and Real Assets (UK); a consortium of Italy's Snam, Belgium's Fluxys, Dutch-based Gasunie and Spain's Enagas; Romanian state-owned Transgaz with France's GRTgaz; Spain's Regasificadora del Noroeste; Integrated Utility Services (USA); and PowerGlobe LLC (Qatar).

It is considered certain that at least three of the investors, those from Europe, will pass to the next round of the privatization process. Sources suggested that the chance of the other three consortiums also gaining approval is very slim due to a...