SOCAR Turkey cancels sale of shares in Turkey’s Petkim
by ChemOrbis Editorial Team - content@chemorbis.com
According to a statement on Turkey’s Public Disclosure Platform (KAP) dated June 8, SOCAR Turkey A.Ş. has cancelled the sale of 1.6% of its stake in Turkey’s Petkim. The shares, which have a nominal value of TRY16 million ($5.77 million), had been planned to be sold to BCM Global Fund Ltd.
The company cited uncertainty in the markets as the main reason behind the parties’ decision to cancel the transaction. The company also stated that the sale may be discussed again in the future depending on developments.
The company cited uncertainty in the markets as the main reason behind the parties’ decision to cancel the transaction. The company also stated that the sale may be discussed again in the future depending on developments.
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