According to him, despite proposals by Greek side on reconsideration of signed contract and reduction of SOCAR share to 49%, Azerbaijani side did change its position in this regard: “SOCAR does not intend to sell or reduce its 66%-share in DESFA”.
Currently, the Directorate-General for Competition of the European Commission is considering the issue on privatization of DESFA.
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.
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