Bank Of Baku

Azerbaijan’s SOCAR puts off deal with Turkey’s Tekfen

Azerbaijan’s SOCAR puts off deal with Turkey’s Tekfen
# 02 June 2009 16:56 (UTC +04:00)
Baku. Rashad Suleymanov – APA-Economics. Azeri state oil company Socar has postponed a sale deal with Turkey’s Tekfen Holding indefinitely, said Rovnag Abdullayev, President of SOCAR.

“This is due to the risk of acquiring a construction company now. We put off. We will reconsider this issue of it is appealing for us,” he added.

In September 2008, Tekfen Holding agreed to sell a 50% stake to Azerbaijan’s state-owned oil and natural gas company SOCAR for $520 million.
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