The Spanish group Gas Natural Fenosa officially announced that it has begun the procedures for the sale of its assets in the Republic of Moldova. The transaction is generously estimated at about 500 million euros by the Spanish website http://www.eleconomista.es.

The company is constantly working to review and optimise its business portfolio, and its non-strategic activities and territories, writes the press release on the company website. “Based on this strategic review of its international positioning, the company has decided to undertake competitive sales processes for its electricity distribution business in Moldova and its power generation business in Kenya.”

Rumors of this intention were raised earlier in mid-January. Moldovan media reported that potential buyers would be a Czech billionaire, as well as a businessman from the Republic of Moldova, unconfirmed information.

GAS NATURAL FENOSA reached a net profit of 1.36 billion euros in 2017, 1% more than in 2016, as EBITDA reached 3,91 billion euros, down 16.1% from 2016, „due to interruptions in the gas distribution and marketing businesses in Italy, gas distribution in Colombia, electricity distribution in Moldova and power generation in Kenya”.

Gas Natural Fenosa distributes electricity to more than 20 million customers in over 30 countries of the world. In the Republic of Moldova it has about 878,000 customers, for a market share of 70%.

In 2016, Gas Natural Fenosa, through its power supply unit, sold 2.91 GWh in the Republic of Moldova.