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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