Greece agrees to sell DESFA to

Greece agrees to sell DESFA to SOCAR

14:01 21 June 2013 Read: 696

Greece agrees to sell DESFA to SOCAR

The Board of Directors of the Hellenic Republic Assets Development Fund (HRADF) has reviewed and welcomed the proposal of SOCAR to purchase DESFA Gas Company.

HRADF`s Board of Directors, during its meeting today, was updated on the improved proposal of SOCAR for DESFA and expressed its unanimous satisfaction.

The Board subsequently decided to proceed to all necessary actions in order that the tender is concluded as soon as possible, Gun.Az reports, citing the official website of HRADF.

Of DESFA assets, 35% belongs to Hellenic Petroleum, 31% - directly to the Greek government. The government will gain EUR 188m from the sale of the share.

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