SOCAR's buying stake in DESFA fails

SOCAR
# 02 May 2017 13:57 (UTC +04:00)

The framework agreement signed between Greek government and creditors envisages sale of DESFA’s 66% share to only European countries, APA-Economics reports citing to RIA Novosti.

The framework agreement considers preparation of road map on liberalization of gas market till September. According to the decision, DESFA’s 66% share will be privatized. The agreement includes two conditions: 1) potential investor should be an European company; 2) after privatization, DESFA should operate on the basis of full private distribution model.

The process is expected to end by the end of this year.

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THE OPERATION IS BEING PERFORMED