SOCAR offers highest price for acquisition of 10.32-percent stake at Petkim Petrochemical Holding

Socar Turkey Enerji and SOCAR International DMCC OGG offered the highest price for privatization of a 10.32-percent stake at Turkish Petkim Petrochemical Holding, Trend reported on Friday.

"Some $168.5 million were offered for acquisition of this stake," the agency reported.

The State Oil Company of Azerbaijan (SOCAR) and Turkish plastic producing company Naksan Plastik claimed for acquiring at the Petkim Petrochemical Holding.

SOCAR Turkey Enerji has a 51-percent stake at the Turkish petrochemical complex, while 38.67 percent is in free circulation at the Istanbul Stock Exchange.

Earlier, SOCAR Turkey Enerji CEO Kenan Yavuz told Reuters that SOCAR has appealed to the Privatization Board of Turkey to acquire a 10.32-percent stake at the Petkim Holding.

 

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