Deadline for reviewing SOCAR’s DESFA deal suspended
Baku, Azerbaijan, Feb. 4
By Aygun Badalova - Trend:
The deadline for reviewing the deal on purchasing 66 percent of share in Greek DESFA gas transmission system operator by the State Oil Company of Azerbaijan (SOCAR), has been suspended, Reuters reported.
The deadline was suspended on Jan.21, according to Reuters' information.
In early November, 2014, the EU's anti-monopoly authority announced about launching an in-depth investigation to assess whether the proposed acquisition of DESFA by SOCAR would be in line with the bloc's merger regulations. Brussels warned the merger might hinder competition.
In December the time of reviewing the deal was postponed until April 22. Previously, it was assumed to take place before March 23.
SOCAR intends to purchase two-thirds of DESFA company for 400 million euros.
It should be noted that newly appointed Greek Minister of Energy Panagiotis Lafazanis early said that Greece will determine the next steps regarding this deal after the decision of the European Commission is made.