SOCAR plans to sign an agreement to purchase DESFA by late 2015

The European Commission’s Competition Directorate-General extended the consideration of the deal on the acquisition of a 66% stake in DESFA by Azerbaijan’s state oil company SOCAR by late 2015, the SOCAR head Rovnag Abdullayev said.“Our working group is responding to the requested questions of the Commission,” APA cited him as saying..SOCAR intends to acquire a 66% stake of DESFA for 400 million euros.

The European Commission’s Competition Directorate-General extended the consideration of the deal on the acquisition of a 66% stake in DESFA by Azerbaijan’s state oil company SOCAR by late 2015, the SOCAR head Rovnag Abdullayev said.

"Our working group is responding to the requested questions of the Commission," APA cited him as saying.

SOCAR intends to acquire a 66% stake of DESFA for 400 million euros.