In early November, 2014, the EU’s anti-monopoly authority announced about launching an in-depth investigation to assess whether the proposed acquisition of DESFA by SOCAR would be in line with the bloc`s merger regulations. Brussels warned the merger might hinder competition.
In December the time of reviewing the deal was postponed until April 22. Previously, it was assumed to take place before March 23.
SOCAR intends to purchase two-thirds of DESFA company for 400 million euros.
It should be noted that newly appointed Greek Minister of Energy Panagiotis Lafazanis early said that Greece will determine the next steps regarding this deal after the decision of the European Commission is made.
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