Meeting of Hellenic Petroleum shareholders to approve deal between DESFA and SOCAR on september 2, 2013
On August 2, 2013 Board of Directors of Hellenic Petroleum approved the deal to sell 66% shares of DESFA, operator of the Greek gas transport operator, to State Oil Company of Azerbaijan (SOCAR) for 400 million Euro, reported Greek oil company.
Hellenic Petroleum owns 35% shares and Greek Privatization Agency HRADF holds 31% shares of DESFA. Yesterday the HRADF Board approved the “improved proposal” of SOCAR.
“The Board of Directors of Hellenic Petroleum has approved the proposed deal and recommended its final approval at the extraordinary session of the shareholders, which was scheduled for this purpose for September 2, 2013. The deal is yet to be approved by the national and European regulating agencies,” reads the company’s statement.
The oil company has also released the decision of the Board of Directors to schedule the extraordinary session of shareholders for September 2, 2013.
The auction on sale of DESFA shares took place on June 10 simultaneously with the auction on sale of Greek DEPA gas company, the main pretender to purchase of which was considered Russian Gasprom company. But it did not submit the proposal at the last stage of the auction.—0--
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