Fluxys intends to buy 8% stake in Desfa

Baku, October 3, AZERTAC

Belgian company Fluxys may buy an 8 percent stake in Greek gas grid operator DESFA from SOCAR if the Azeri energy company goes ahead with plans to purchase 66 percent of the Greek company.

Fluxys expressed its desire to buy 8 percent in DESFA from the 66 percent stake that SOCAR plans to acquire.

The potential deal, under negotiation since 2013, would involve SOCAR buying the stake for around 400 million euros ($457 million) from the Greek state and Hellenic Petroleum.

SOCAR plans to resume talks over the deal in December.

Greece's privatisation agency said in August that a deal could be agreed by the end of the year.

Greece launched a privatisation plan following the country's 2010 bailout deal but progress has been limited and new doubts about deals were raised after Greece's leftist Syriza party took power in January.

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