TAIPED’s board of directors have unanimously accepted SOCAR’s new improved offer of 400 million euros for the purchase of 66% shares of DESFA.

The privatization fund made an announcement expressing “great pleasure to accept SOCAR into the Greek market, as a very serious strategic partner, who will contribute decisively in our economy”.

TAIPED will collect 188 million euros for its 31% share, while Greek Oil (ELPE) will receive 212 million euros for its 35% share. ELPE’s board of directors will convent tomorrow to discuss SOCAR’s offer.