Deadline for expression of interest for Greek DESFA extended
Baku, Azerbaijan, August 2
By Leman Zeynalova – Trend:
The deadline for expression of interest for acquisition of Greek DESFA gas grid operator’s 66 percent share has been extended until August 7, 2017, said the message on the website of Hellenic Republic Asset Development Fund S.A (HRADF).
“At the request of an investor and in agreement with Hellenic Petroleum SA, the Board of Directors decided to extend until August 7, 2017 the closing date for the expression of interest for the acquisition of 66 percent of the share capital of DESFA,” said the message.
Earlier, Greece announced a new tender for privatization of the country’s DESFA natural gas grid operator.
The new tender will involve again the sale of DESFA’s 66 percent (31 percent held by HRADF and 35 percent held by Hellenic Petroleum). The remaining 34 percent of DESFA shares shall be transferred to the government.
Azerbaijan’s state oil company SOCAR won a tender in 2013 on the purchase of a 66-percent stake in DESFA for 400 million euros.
The Azerbaijani company intended to obtain a 31-percent stake from the Greek government and to buy a 35-percent stake in Hellenic Petroleum.
It was expected that the deal will be closed only after the purchase of at least a 17-percent stake out of SOCAR’s 66-percent by Italy’s Snam.
SOCAR, Snam and Greek government have been holding intensive talks against the background of changes in legislation that affected DESFA’s financial position and market value.
However, the parties were unable to reach an understanding and consequently, the deal was terminated Nov. 30.
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