SOCAR entitled to acquire control package of shares in SOCAR Energy Ukraine

08.02.2013 [21:48]
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Baku, February 8 (AZERTAC). The Ukrainian Antimonopoly Committee entitled SOCAR to increase its stake in SOCAR Energy Ukraine's authorized capital. This will allow it to acquire more than 50 percent of votes in the supreme governing body of the company, a statement posted on the official website of the committee said today.

A group of SOCAR Ukraine companies led by SOCAR Energy Ukraine in 2013 plans to increase the number of filling stations in Ukraine under the SOCAR brand to 100 units.

Around 18 filling stations under the SOCAR brand were commissioned in Ukraine in 2012. Thus, at present, around 33 SOCAR filling stations work in the Ukrainian fuel market. SOCAR Ukraine bought 32 filling stations in 2012. Their re-branding will be held in accordance with SOCAR corporate standards.

Thus, the group of SOCAR Ukraine companies manages assets of 65 filling stations.

The State Oil Company is the only producer of oil products in the country (it has two refineries on its balance sheet) and also owns petrol stations in Azerbaijan, Georgia, Ukraine and Romania. SOCAR possesses a network of petrol stations in Switzerland and is the co-owner of the largest Turkish petrochemical complex Petkim.

SOCAR entitled to acquire control package of shares in SOCAR Energy Ukraine

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