During the extraordinary meeting on Monday, October 5, the Transgaz shareholders approved the acquisition of 25% of the Moldovan subsidiary, Vestmoldtransgaz, by the European Bank for Reconstruction and Development (EBRD), according to a report submitted to the Stock Exchange. The EBRD will buy the package for 20 million euro and it will be subsequently repurchased by Transgaz.
“The Assembly… approves the conclusion of a transaction with the European Bank for Reconstruction and Development involving Vestmoldtransgaz SRL with 25% of its share capital and the assumption by Eurotransgaz SRL (a Transgaz subsidiary) and SNTGN Transgaz SA, jointly and severally, of the obligation to buy from the EBRD the EBRD’s participation in Vestmoldtransgaz SRL at a predetermined price at the time the option to sell the EBRD’s stake in Vestmoldtransgaz SRL,” the report states.
About 58.5% of Transgaz shares are owned by the Romanian state.
Vestmoldtransgaz operates the pipeline network in the west of the Republic of Moldova, being an important element in the future reduction of dependence on Russian gas, via the interconnection Iasi-Chisinau.