SOCAR Turkey Enerji A.S., a subsidiary of the Azerbaijani state oil company SOCAR in Turkey, plans to sell a part of its stake in Turkish petrochemical complex Petkim.
The sale of the part of the stake is expected to take place until late October 2016, Turkey’s Public Disclosure Platform (Kamuoyunu Aydinlatma Platformu - KAP) said in a message posted on its website.
Direct participation share of SOCAR Turkey Enerji in the petrochemical complex is 5.32 percent.
The assets of Petkim petrochemical complex increased by 44.2 percent and stood at 5.46 billion liras as of Jan.1, 2016 as compared to 3.79 billion liras in 2014.
Petkim's net profit increased by 14 percent in 2015 as compared to 2014 and stood at 639.2 million liras. Its authorized capital has increased to 1.5 billion liras.
Petkim produces plastic packages, fabrics, detergents, and is the sole Turkish manufacturer of such products, a quarter of which is exported.
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