EBRD takes over 25% in Vestmoldtransgaz from Transgaz

The competition body in Romania cleared the sale of 25% in Veestmoldtransgaz, currently fully owned by Romania’s Transgaz, to the European Bank for Reconstruction and Development.

The transaction consists of a capital increase for Vestmoldtransgaz, to which the EBRD will contribute EUR 20 mln.

The deal was announced by the EBRD last August.

It includes a put option that allows the bank to sell back the stake to Transgaz “at a predetermined price,” according to the EBRD’s note issued at that time.

In February 2018, Transgaz took over the 100% stake put up for sale by Moldova in Vestmoldtransgaz - at that time operating the gas interconnector with Romania.

Meanwhile, it has built the key connection toward the industrialised area around the Moldovan capital Chisinau under a EUR 90 mln project.

Transgaz started technical tests on the Iasi-Ungheni-Chisinau gas pipeline in July 2020, but no significant exports were carried ut so far.

Starting this October, the Russian gas exports to Moldova will use this route as opposed to crossing Ukraine, as was the case so far.

(Photo: Oleg Gersymenko/ Dreamstime)