ECONOMY


SOCAR keen to purchase share from DESFA

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Baku, August 27, AZERTAC

Hellenic Republic Asset Development Fund (HRADF) and Hellenic Petroleum S.A. have met State Oil Company of the Republic of Azerbaijan (SOCAR), which confirmed its interest for the completion of the transaction with the extension, until December 21,2015, of the Share Purchase Agreement and the guarantee letter of €40 million.

The transaction amounting to €400 million concerns the sale of a 66% stake of DESFA, 31% by HRADF and 35% by Hellenic Petroleum.

The completion of the transaction is pending approvals by the relevant European Union and national authorities.

All parties reiterated their strong will and commitment to conclude this transaction as soon as possible.

 

 

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