Baku, Azerbaijan, Sept. 9
By Emil Ismayilov - Trend:
Azerbaijan's State Oil Company (SOCAR) is expected to complete the deal on purchasing stake in the Greek gas operator DESFA by late September, SOCAR Head Rovnag Abdullayev told reporters Sept. 9.
He said that currently the deal is being approved by the relevant bodies of the EU, and the process is expected to be completed later this month.
In late 2013, SOCAR signed agreements with the Hellenic Republic Assets Development Fund (HRADF) and the company 'Petroleum' to acquire 66 percent share of DESFA, the Greek national operator of gas distribution network.
Following an international tender announced earlier by HRADF, the parties signed an agreement on the sale of shares and shareholders agreement.
The signed documents will come into force following their approval by the European Commission Directorate General for Energy and Antitrust Policy.
It was noted at the signing ceremony that, SOCAR's purchase of a controlling share of DESFA is of great importance from the viewpoint of enhancing Azerbaijan's role in providing the energy security of Europe, as well as attracting foreign investments to Greece.
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