In 2022, the JSC “Latvijas Gaze” Council adopted a resolution on organising the sale of the gas distribution system operator JSC “Gaso” owned by the company and hiring an advisor.
In fulfilment of the Council resolution of September 15, 2022, the JSC “Latvijas Gaze” has launched the process of selling the gas distribution system operator JSC “Gaso” which it owns. The process is set to be completed within 2023.
The sale process consists of multiple stages. As at the date of publication of this statement, interested investors have been approached, a data and information package has been prepared and sent to potential investors, and the due diligence of potential investors has been completed.
Currently, bindings bids are being received from potential investors. Upon completion of this stage, the bids received will be analysed and a proposal will be drafted.
As a final stage of the JSC “Gaso” sale process, a proposal on investor selection is expected to be submitted to the JSC “Latvijas Gaze” Council for review within April.
When the decision on investor selection has been made, a sales purchase agreement will be signed and the transaction will be executed.
