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Turkey’s Petkim sells 30% of Petlim to Goldman Sachs

by ChemOrbis Editorial Team - content@chemorbis.com
  • 23/12/2014 (11:33)
According to a statement on Turkey’s Public Disclosure Platform (KAP), Turkey’s Petkim has agreed to sell a 30% stake in Petkim subsidiary Petlim to Goldman Sachs. The transaction value was reported at $250 million. Petkim and Petlim are both controlled by the State Oil Company of Azerbaijan (SOCAR).

On July 18, Petkim had announced that it reached a preliminary deal to sell 30% of its shares in Petlim following talks that started in February.

Petlim will operate a planned new container port at Petkim’s facility in Aliaga, Turkey, which will be the largest and deepest container port in Turkey once it is completed.The capacity of the new port is expected to exceed the capacity of the nearby Alsancak port by about 50%.
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