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Transaction on DESFA privatization by SOCAR extended until year-end

26 August 2015 13:18 (UTC +04:00)

Baku – APA-Economics. HRADF and Hellenic Petroleum S.A. have met today with the Azeri company «State oil Company of the Republic of Azerbaijan» (SOCAR), which confirmed its interest for the completion of the transaction with the extension, until 21.12.2015, of the Share Purchase Agreement and the guarantee letter of €40 million.

The transaction amounting to €400 million concerns the sale of a 66% stake of DESFA, 31% byHRADF and 35% by Hellenic Petroleum.

It is noted that the completion of the transaction is pending approvals by the relevant

European Union and national authorities.

All parties repeated their strong will and commitment to conclude this transaction the soonest possible.