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OUR NEWS

Socar Announcement
01.12.2016

“HELLENIC PETROLEUM SA” (HELPE), announces that  Azerbaijan’s State Oil Company (SOCAR) informed yesterday, 30.11.2016, ‘HELLENIC REPUBLIC ASSETS DEVELEPMENT FUND S.A.” (HRADF) and HELPE of its decision not to prolong the Long Stop Date for the fulfilment of the conditions precedent for the completion of the sale and purchase of the shares of DESFA S.A..The Long Stop Date has been agreed among the aforementioned Companies, i.e. SOCAR as purchaser and TAIPED and HELPE as sellers, by the Sale and Purchase Agreement of  the Shares of DESFA S.A. dated 21.12.2013 as amended. The 30th November 2016, has been set as Long Stop Date, which has now been lapsed without the completion of all conditions precedent.