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No extra additional discount considered for SOCAR in sale of DEPAâ€™s shares

15 July 2011 15:21 (UTC +04:00)

Baku. Ali Ahmadov - APA-Economics. During the privatization process of DEPA Company, it shares will be put up for sale 55% by minimum and 90% by maximum, executive director of Greek DEPA company Harry Sachinis said at todayâ€™s press conference.

To him, currently, 65% of companyâ€™s shares belong to Greek government, 35% to Helenik Petroleum company: â€œThe government intends to keep 10% of companyâ€™s shares for itself. But it is difficult to say anything about whether shares of Helenik Petroleum will be sold or not. Maybe, they also will put up some part of own share for saleâ€.

According to Executive Director, several companies interest in shares of DEPA: â€œThe Company offering highest price will be preferred during the saleâ€.

H. Sachinis noted that, not concession is considered for SOCAR in ale of shares of DEPA, if it even selects ITGI project for transportation of Azerbaijani gas to Europe: â€œSale process will be transparent and the company offering highest price will winâ€.