SOCAR increases share in its Turkey-based subsidiary to 100%


SOCAR has increased the share in SOCAR Turkey Energy from 87% to 100%, Report informs, citing Public Disclosure Platform.

According to the information, SOCAR, jointly with Goldman Sachs International and JP Morgan Securities Plc, will buy 890,574,713 pieces of shares (13 percent of the capital) in SOCAR Turkey Energy for $1.3 billion of Goldman Sachs.

In parallel, SOCAR will sign a six-year sale option agreement with each of STEAŞ and its subsidiary Capital Investment Limited (SIL).