Baku / 23.09.16 / Turan: SOCAR President Rovnag Abdullayev plans to hold talks with the Greek Government in Athens next week on the acquisition of 66% stake in the Greek gas distribution company DESFA.
‘I plan to visit Athens at the end of September for talks with the Greek government on the issue. They are waiting for us,’ Abdullayev told reporters.
He also urged the media not to create excitement around the transaction. According to him, it is necessary to respect the position of the Greek government.
It was reported earlier that SOCAR is waiting for a compromise on the part of the Greek government for the successful completion of the acquisition of a 66% stake in DESFA. In particular, the Greek side has changed the rules for the calculation of tariffs for gas, which, according to SOCAR's estimations, will lead to at least a 50% loss of DESFA’s value. SOCAR said that it is not ready for new conditions and they are not so interesting for the company.
SOCAR is ready to continue to participate in the privatization of DESFA on the same terms and it waits for a compromise on the Greek side.
The term of the letter of guarantee from SOCAR to participate in the privatization of DESFA expires on September 30, 2016. -12B--
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