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European Commission says SOCAR’s buying stake in DESFA almost resolved (UPDATE)

Oil&Gas Materials 25 January 2016 11:34 (UTC +04:00)
The issue of SOCAR’s buying stake in DESFA Greek gas transport operator is almost resolved, European Commission Vice-President Maroš Šefčovič said in an interview with EurActiv.

Details added. First vwrsion was posted at 11:13

Baku, Azerbaijan, Jan. 25

By Aygun Badalova - Trend:

The issue of SOCAR's buying stake in DESFA Greek gas transport operator is almost resolved, European Commission Vice-President Maroš Šefčovič said in an interview with EurActiv.

"I think at that time, DESFA was prepared for privatization and a company from Azerbaijan (SOCAR) was ready to invest. So they did," Šefčovič said.

In such an investment, he said, the Commission always looks at the current and the future situation of the market to make sure that there is a proper competition in all areas.

Thereby, the modalities, the proportion, the ownership, the share owned by SOCAR were subject to the discussion, according to Šefčovič.

"But I think that now is almost resolved," he said.

"They are negotiating, but there are no reasons for concern at this stage," Šefčovič added.

SOCAR won a tender in December 2013 on the sale of 66-percent share in DESFA for 400 million euros. The European Commission started an inquiry into the compliance of the deal on acquisition of a stake in DESFA with the EU's regulations In November 2014. Currently, the deal is being considered by European Commission's Directorate-General for Competition.

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