SOCAR negotiates to acquire a stake in Turkey’s Tekfen İnşaat

SOCAR negotiates to acquire a stake in Turkey’s Tekfen İnşaat
# 14 November 2008 09:08 (UTC +04:00)
Baku. Vugar Mustafayev – APA-Economics. State Oil Company of Azerbaijan (SOCAR) is in negotiations to take a 50% stake in Turkey’s Tekfen İnşaat, said Vagif Aliyev, SOCAR’s head of international investments.
He added that negotiations are to some extent affected by the world financial crisis. “Companies are now reconsidering their positions. We also need to specify several issues,” he added.
Turkish media reported that Tekfen sells 50 percent share to Palmali-Socar for $520 million.
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