Romania: Transgaz approved EBRD’s acquisition of 25 % stake in Vestmoldtransgaz

7. October 2020. / SEE Energy News

Transgaz bought Vestmoldtransgaz through Eurotransgaz in September 2018 for 8.8 million euros. Vestmoldtransgaz operates the gas transmission link between Moldova’s Ungheni and Romania’s Iasi, with a further connection point to Moldova’s capital Chisinau recently completed.

Shareholders of Romanian natural gas transmission system operator Transgaz approved the acquisition of 25 % stake in its Moldovan subsidiary Vestmoldtransgaz by the European Bank for Reconstruction and Development (EBRD).

In August, EBRD said that it will acquire 25 % stake in Vestmoldtransgaz, adding that the transaction consists of a capital increase for Vestmoldtransgaz, in which the EBRD will participate with 20 million euros. Transgaz’ CEO Ion Sterian said on the occasion that this transaction will contribute to the long-term development of gas transmission system in Moldova.

 

 

 

 

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