BERLIN, October 2. /TASS/. The German government has launched the process of re-privatization of SEFE (formerly known as Gazprom Germania), a former subsidiary of Gazprom, newspaper Börsen-Zeitung reported.
The authorities have initiated the process of submitting bids to acquire the company, according to the report. SEFE is valued at around 6 bln euro, the publication said.
In November 2022, the German government decided to nationalize SEFE, which owns the largest underground gas storage facility in Western Europe, Rehden. Germany’s Federal Ministry for Economic Affairs and Climate Action justified the move by the impending insolvency of SEFE, which would have threatened security of gas supplies in Germany. SEFE is a key company in Germany’s energy supply sector, the country’s economic ministry noted.