HRADF's Board of Directors, in co-operation with Hellenic Petroleum SA (HELPE), on Monday unsealed the improved financial offers submitted by the following two investment schemes in a tender for the sale of a 66 pct equity stake in the Hellenic Gas Transmission System Operator SA (DESFA):

- The Consortium composed of Snam SpA, Enag?s Internacional SLU and Fluxys SA

- The Consortium composed of Regasificadora del Noroeste SA, Reganosa Asset Investments SLU, SNTGN Transgaz SA and European Bank for Reconstruction and Development (EBRD).

HRADF will contribute a 31 pct equity stake and HELPE a 35 pct stake in the sale of DESFA.

According to the terms of the tender process, it was requested from the Consortium of Snam SpA, Enag?s Internacional SLU and Fluxys SA, which submitted the higher improved offer, to submit a further improved offer, which will be assessed at a subsequent meeting of HRADF's board of directors and by the appropriate corporate bodies of HELPE.