Naftogaz hires Lazard to act as advisor in selling assets in Egypt

Ukraine’s joint-stock company Naftogaz Ukrainy plans to hire Lazard Freres SAS (France) that advised the restructuring of Ukraine’s state debt to help in the possible sale of Naftogaz’s assets in Egypt.

Naftogaz said in an announcement in the ProZorro e-procurement system that the cost of Lazard services is $1.25 million, which is $200,000 less than the expected cost.

Naftogaz said that twice the company announced tenders to select an advisor (on March 31 and May 17), but only Lazard submitted a bid for the tenders. The negotiation procedure applied afterwards.

The advisor shall analyze and consult on the potential basis for sale of rights and liabilities under concession agreements, select the best time for the deal, propose measures to maximize investment value of the assets and make up a list potential investors and options for their involvement.

The service is to be provided by December 31, 2018.

Source: Interfax