SOCAR acquires 66 percent share package of Greek DESFA
Baku, Azerbaijan, Dec. 22
The State Oil Company of Azerbaijan Republic (SOCAR) has signed with the Hellenic Republic Assets Development Fund (HRADF) and the company "Petroleum" an agreement to acquire 66 percent share package of the Greek operator of gas transmission company DESFA.
This is stated in SOCAR press release, released on Saturday.
Following an international tender announced earlier by HRADF, the parties signed an agreement on the sale of share package and shareholders agreement.
Signed documents will come into force after their approval by European Commission Directorate General for Energy and Antitrust Policy, press release reported.
As it was noted at the signing ceremony, SOCAR buy of a controlling share package of the company DESFA is of great importance from the viewpoint of enhancing the role of Azerbaijan in providing with the energy security of Europe, as well as attracting foreign investments into Greece.