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Minister: No asset in energy sector will be privatized except DESFA

31 March 2016 13:31 (UTC +04:00)

Along with this, the minister noted hat DESFA privatization is delayed due to protest of the European Commission: “The EU protests against sale of over 51% equity in DESFA to SOCAR”.

On July 31, 2013, the Hellenic Republic Asset Development Fund approved the transaction on purchase of 66% of DESFA shares by SOCAR for €400 mln.

In December, 2013, SOCAR and Greece's state privatisation fund and Petroleum companies signed Contract on Shareholders and the Share Purchase Agreement (SPA). SOCAR purchases 31% share of DESFA from Greek government, 35% from Hellenic Petroleum SA. HRADF will control share package of the DESFA prior to the SOCAR takes over control on it.