Petkim acquired a 12% stake in STAR refinery

15:38 - 3.10.2023

October 3, Fineko/ The asset of the State Oil Company of Azerbaijan (SOCAR) in Türkiye - the Petkim petrochemical complex has completed acquisition of a 12% stake in STAR refinery.

ABC.AZ reports that Petkim became an indirect shareholder of STAR refinery.

The share purchase transaction announced by Petkim in 2018 ended on October 2, subject to all conditions: "Thanks to the purchase of shares, Petkim indirectly became a 12% shareholder of STAR Rafineri A.Ş. The transaction amounted to $480 million.

This transaction will affect the consolidated financial statements of Petkim, starting from the 4th quarter of this year.

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