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Socar placed bid for Turkey's 10.32 pct stake in Petkim-CEO
March 20, 2012 / 2:42 PM / in 6 years

Socar placed bid for Turkey's 10.32 pct stake in Petkim-CEO

ISTANBUL, March 20 (Reuters) - Azerbaijan’s state-run oil firm Socar placed a bid with Turkey’s Privatisation Board to buy a 10.32 percent stake in petrochemicals maker Petkim , Socar’s Turkey unit Chief Executive Kenan Yavuz told Reuters on Tuesday.

Socar’s Turkey unit owns a 51 percent majority stake in Petkim, while 38.67 percent is publicly traded, according to Petkim’s web site.

“We have placed a bid for the stake with the Privatisation Administration today. I can’t comment on the amount of the bid,” Yavuz said. The deadline for bids was Tuesday.

Reporting by Evrim Ergin, Writing by Seda Sezer

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