Socar Turkey Energy sells part stake in Turkish petrochemical major Petkim

18-Oct-16

Socar Turkey Energy, a subsidiary of Azerbaijan's state energy giant SOCAR, has sold a part of its stakes in the Turkish petrochemical giant Petkim, as per AzerNews.
Direct participation share of SOCAR Turkey Energy in the petrochemical complex decreased to 1.32%, after the sale of some 35 mln shares from an earlier share level of 5.32%. The share of SOCAR Turkey Petrokimya A.S in Petkim remained unchanged - 51%. Following the transaction, the direct and indirect participation of SOCAR Turkey Energy in the petrochemical giant decreased from 54.65% to 52.32%.
Market value of the Turkish Petkim petrochemical complex is currently estimated at US$2.2 bln.