Turcas sells 18.5% of Star refinery for $59.4 million

Stake in Socar Turkey Yatirim was sold to Rafineri Holding, which is owned by Socar Turkey Enerji, according to public filing by Turcas Petrol after market closed yesterday.

Turcas Group comprises Turcas Petrol and Turcas Rafineri Yatirimlari. Socar Turkey Yatirim owns Star Rafineri. 

Turcas Petrol on March 25 said it was in talks to sell stake.

Socar is building a $5.5 billion refinery at Turkey’s Aegean coast as it seeks to expand naphtha output.

Bakudaily.az