The Competition Council approved the operation by which the European Bank for Reconstruction and Development (EBRD) takes over a part of the share capital of Vestmoldtransgaz SRL. Following this transaction, Vestmoldtransgaz SRL will be owned by Eurotransgaz SRL and EBRD.
Eurotransgaz SRL, a company incorporated in the Republic of Moldova, is owned by the National Natural Gas Transport Company Transgaz SA. Eurotransgaz SRL carries out activities of production, storage, transport, distribution and supply of natural gas, transport through pipelines, storage, as well as consulting activities for business and management.
The EBRD was founded to support the transition to a market economy and the promotion of private initiative and entrepreneurship in the countries in which it operates. The EBRD is authorized by its members to use a wide range of financial instruments, including equity investments in private sector enterprises.
Vestmoldtransgaz SRL is a natural gas transmission and system operator, licensed for this purpose in the Republic of Moldova, but without currently carrying out activities.
Following the analysis, the Competition Council found that this operation does not raise significant obstacles to effective competition on the Romanian market or on a substantial part of it and that there are no serious doubts about its compatibility with a normal competitive environment.