Global, sector-focused law firm HFW has advised the Hellenic Republic Asset Development Fund (HRADF) on the €535 million sale of its 66 percent stake in Greek natural gas transmission system operator DESFA.

The stake will be acquired, subject to the satisfaction of regulatory conditions, by a consortium comprising Snam S.p.A., Enagás Internacional S.L.U. and Fluxys S.A. – the natural gas transmission system operators in Italy, Spain and Belgium, respectively.

The deal implies a total equity value for DESFA of €810 million.

HFW advised HRADF on the M&A aspects of the transaction. The firm's team was led by corporate partner Alex Kyriakoulis and included senior associate Peter Emery and associate Craig Grant.

HRADF was also advised by Clifford Chance on EU law matters and Koutalidis Law Firm on Greek law matters.