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Transgaz shareholders will approve the EBRD-Vestmoldtransgaz transaction

26 August 2020
Oil&Gas
energynomics

Transgaz (TGN) shareholders were summoned on October 5 to approve the EBRD’s entry into the Vestmoldtransgaz shareholding, according to a report sent to the Bucharest Stock Exchange. The EBRD will buy 25% of the shares for 20 million euros.

On the agenda is the approval of concluding a transaction with the European Bank for Reconstruction and Development which involves the subscription by the EBRD of a new capital share issued by Vestmoldtransgaz SRL for the amount of 20 million euro, the EBRD thus becoming a partner in Vestmoldtransgaz SRL with 25% from its share capital. Also, Eurotransgaz SRL and SNTGN Transgaz SA, jointly, have the obligation to buy from the EBRD the EBRD stake in Vestmoldtransgaz SRL at a predetermined price at the moment when the EBRD exercises its option to sell the EBRD stake in Vestmoldtransgaz SRL, according to financialintelligence.ro.

Transgaz, as the sole partner of its subsidiary in the Republic of Moldova, Eurotransgaz SRL, completed, in September 2018, the takeover of the state enterprise Vestmoldtransgaz, signed on March 28, 2018.

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