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Transgaz Signed the Agreement to Acquire Moldova’s Vestmoldtransgaz

CHISINAU.--The acquisition contract of Moldova’s Vestmoldtransgaz by Eurotransgaz, a company owned entirely by the Romanian gas grid operator Transgaz, was signed in March 2018 in Chisinau, in the presence of Romanian Economy Minister Mr. Danut Andrusca and his counterpart in Moldova, Chiril Gaburici.

In February 2018, Eurotransgaz- company whose sole shareholder is the Romanian gas transmission company Transgaz SA, was declared the winner of the “privatization bid” of Vestmoldransgaz.

“The signatory parties of the contract were: The Public Property Agency of the Republic of Moldova represented by its director Ms. Dorina Cebotărean, Minister of Economy and Infrastructure Mr. Chiril Gaburici, and Eurotransgaz having as a sole shareholder SNTGN Transgaz SA, represented by the administrators Tudor Dutu and Cristina Rusu” as mentioned in a press release published by the Ministry of Economics of Romania – owner of Transgaz.

The Romanian Minister of Economy, Mr. Danut Andrusca, underlined at the contract signing ceremony- as regards the relation with Republic of Moldova “ Romania adopts the policy of actions, which speak louder than words” and that “the privatization is a first step towards implementing the unity between the two countries”.

According to the cited source, Mr. Danut Andrusca also underlined: “This is more than a mere privatization. It is more than a mere pipeline. It is more than a mere investment and more than a strategic move on behalf of Romania or the Republic of Moldova. It is about fraternity and unity of Romanian people with Romanian people. Now, by means of a contract, tomorrow by means of a pipeline and the day after tomorrow by other as firm and effective means. Romania adopts the policy of facts as far as the Republic of Moldova is concerned. This is what the Romanian and the Moldavian citizens expect of us.”.

The joint legal team advising Transgaz was made of Sorin Vlădescu, Partner (Ţuca Zbârcea & Asociaţii), Nisa Jecu, Senior Associate (Ţuca Zbârcea & Asociaţii), Octavian Cazac, Partner (Ţurcan Cazac), Vadim Taigorba, Associate (Ţurcan Cazac) and Ana Galus, Associate (Ţurcan Cazac) .