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Azerbaijan Buys Greek Gas Distributor Stake

Greece's privatization agency says Azerbaijan's state gas operator SOCAR has finalized an agreement to buy 66 percent of Greek gas distributor DESFA.

The sale is part of Greece's state asset sale program originating from its EU-IMF bailout obligations.

The contract was signed in the presence of Greek Energy Minister Yannis Maniatis and SOCAR president Rovnag Abdullayev.

The agency said SOCAR will pay 400 million euros ($546 million) for DESFA, the company that handles Greece's gas transmission system.

Based on reporting by AFP and Interfax