SOCAR offers highest price for privatization of 10.32% stake at Petkim Petrochemical Holdings

02-Apr-12

Socar Turkey Enerji and SOCAR International DMCC OGG offered US$168.5 mln; the highest price for privatization of a 10.32% stake at Turkish Petkim Petrochemical Holding, as per Anadolu news agency. SOCAR Turkey Enerji holds a 51% stake at the Turkish petrochemical complex, while 38.67% is in free circulation at the Istanbul Stock Exchange. Petkim Petrochemical Holding manufactures plastic packaging, fabric, PVC and detergents. It is the only Turkish producer of such products and exports a quarter of its production.