SOCAR Sweetens Bid for Greece’s DESFA

SOCAR Sweetens Bid for Greece’s DESFA

Azeri state-run energy company SOCAR has sweetened its bid for Greece's natural gas grid operator DESFA, Athens News Agency (ANA) reported on Tuesday, citing sources.
SOCAR has offered 400 million euro ($536 million), ANA said. The offer exceeds the 330 million euro that Greek authorities set as a floor based on an independent valuation of the grid operator.
SOCAR is the sole bidder for DESFA after Russian energy company Sintez and Greek-Czech group PPF-Terna pulled out of the race earlier this month
The Greek privatisations agency is selling a 66% stake in DESFA of which 35% is owned by refiner Hellenic Petroleum.


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