SOCAR acquires majority stake in Greek DESFA

SOCAR acquires majority stake in Greek DESFA

Following the results of the international tender announced earlier by the Hellenic Republic, SOCAR together with the Hellenic Republic Assets Development Fund (HRADF) and the ”Petroleum” company signed an agreement on the sale of share package and shareholders agreement to acquire 66 percent share package of the Greek operator of gas transmission company DESFA on December 21.

Signed documents will come into force after being approved 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 package of the company DESFA is of great importance from the viewpoint of enhancing the role of Azerbaijan in providing the energy security of Europe, as well as attracting foreign investments into Greece.

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