European Commission May Prohibit Purchase of Greek Gas Company by SOCAR
The European Commission will examine the conditions of sale of interests in the Greek gas transmission company DESFA to the Azerbaijani oil company SOCAR.
The European Commission has questioned the legality of the sale of DESFA. The EU antitrust agency reported on Wednesday, Nov. 5, in respect of the transaction they have already begun preparing the appropriate checks. European officials have concerns that the gas market in Greece will reduce competition. The agency must make a decision at the end of March 2015, the agency DPA reported.
Recall that SOCAR intends to acquire two-thirds of the company DESFA for 400 million euros. The transaction is related to the construction project of the 3500-kilometer Trans Adriatic Pipeline. -02D-
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