SOCAR Greek acquisition triggers European Commission investigation

SOCAR Greek acquisition: The EU executive has launched an investigation into plans by the State Oil Company of Azerbaijan Republic (SOCAR) to acquire DESFA, Greece’s gas transmission network operator. The purpose of the investigation is to decide if the proposed acquisition would be in line with the EU’s monopoly and merger regulations. SOCAR is said to have offered 400 million euros to secure a majority stake in DESFA. TREND