SOCAR to realize acquisition of DESFA’s share with state funds

SOCAR to realize acquisition of DESFA’s share with state funds

The State Oil Company of Azerbaijan (SOCAR) will realize the acquisition of Greek firm DESFA’s share on the account of state funds, SOCAR Vice-President for Economic Issues Suleyman Gasimov, told journalists on Tuesday.

According to him and in particular, the purchase of the Greek asset for 400 million euros will be provided by SOCAR's increased authorised capital.

"DESFA is very attractive as an investment project. We believe the profitability of this project will be satisfactory both for SOCAR and for the state," Gasimov said.

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