We continue to have the leading role in the transaction advising the consortium of SNAM S.p.A./Fluxys SA-NV/Enagás Internacional S.L.U on all aspects of the project vis a vis the sellers (i.e. Hellenic Petroleum S.A. and HRADF) as well as for the internal affairs of the members of the Consortium. We represented the Consortium in all negotiation and drafting sessions for the finalization of the Transaction Documents in order to reach signing and closing due to the outstanding conditions precedent.
We have completed the extensive legal due diligence on DESFA on March 2018 and provided legal opinions on several matters (e.g. regulatory issues, extensive analysis on the gas market codes, tax planning issues, labour law issues , commercial, land, etc.) and have organized and managed the entire preparatory work for the completeness and compliance of the Binding Offer submitted thereafter. Our client has been nominated as the selected Investor on April 2018 and we have been mandated to prepare the antitrust file before the Greek Competition Committee and/or DG COMP and to support the entire legal issues associated with the Application for the Certification process of DESFA before RAE and DG ENER given the change of ownership of DESFA.