Azerbaijan’s SOCAR to buy Greece’s DESFA

SOCAR (Azerbaijan) plans to purchase the DESFA gas company of Greece, by buying 66% of its shares for 400 million euro, Reuters reports.

Hellenic Petroleum owns 35% of shares in DESFA. 31% of shares belong to the government which will receive about 188 million euro for selling the share.

Sintez (Russian) and PPF-Tema (Greek-Czech) scrapped the idea of purchasing the Greek company in June 2013. Gazprom quit the sale of DESFA too.

Adapted from Vestnik Kavkaza