SOCAR to take full ownership of SOCAR Trading
Azerbaijani state oil company SOCAR will become the 100% owner of SOCAR Trading SA by late 2012, SOCAR Vice President on Economic Affairs, Suleyman Gasimov, told Trend news agency on Wednesday.
"SOCAR acquired equity of shareholders step-by-step: a part - in July, and the rest - in October. Final work is already underway. SOCAR will take full ownership of the enterprise in the near future," Gasimov said.
Founder of the company SOCAR Trading SA is the company Supra Holding Limited, in which SOCAR previously owned a 50-percent share, and subsequently increased this figure to 80 percent.