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Hellenic Petroleum SA Announces Approval Of Sale Of DESFA To SOCAR


Friday, 2 Aug 2013 10:52am EDT 

Hellenic Petroleum SA announced that its Board of Directors convened to review the EUR 400 million binding offer submitted by SOCAR for the acquisition of 66% of the share capital of DESFA (35% HELLENIC PETROLEUM – 31% HELLENIC ASSET DEVELOPMENT FUND), which has already been accepted by HRADF. The Board has approved the aforementioned proposed transaction and has recommended its approval by the Extraordinary General Meeting of Shareholders, which has been convoked for September 2, 2013. The proposed transaction will be subject to customary regulatory approvals by the competent authorities in Greece and the EU. 

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