Nafta Gbely

In 2000 and 2001, EEIP provided consultancy services during the restructuring of Nafta Gbely, within its advisory mandate for the RWE Group.  EEIP and WestLB Panmure acted as joint financial advisors of RWE Group  (formerly cooperated with WFG AG) in acquisition of a 40% shareholding in Nafta Gbely. Nafta is a special service company for SPP (Slovak transit and gas distribution monopoly company), providing underground gas storage, exploration, engineering, construction and installation services.

At 1.3 billion Slovak crowns, this is one of top five foreign investments in the Slovak energy sector. The project was successfully completed in February 2001.

During the years 2001 – 2002, RWE Gas advised by EEIP initiated first phase of Nafta group corporate restructuring plan, accepted also by the state-owned SPP (56% shareholding). EEIP helped in redesigning the overall corporate organizational structure of Nafta Group in order to streamline Nafta´s decision making, get rid of loss producing activities, take out the cost reduction potential plus to maintain and enhance Nafta’s competitiveness. The main task of the mandate was to create a strategic-financial-control and administration centre from the parent company Nafta a.s. Gbely.

As a part of its post-acquisition mandate EEIP advised in the restructuring process of Nafta as an advisor of the only major foreign investor RWE which together with the company’s management initiated the restructuring. EEIP produced number of studies with respect to the financial optimization.

In addition, EEIP acted in the implementation of the restructuring plan when M. Mejstrík served as a permanent guest at the parent Nafta´s Board of Directors Meetings on behalf of RWE Gas from 2001 until 2002.

Nafta Gbely ranks among several of the most significant Slovak energy companies.