Two Petkim Board Members Resign After Owner Turcas Sells Stake

Erdal Aksoy and Saffet Batu Aksoy resigned from the executive board of Petkim Petrokimya Holding AS (PETKM), Turkey’s biggest chemicals maker controlled by Socar & Turcas Enerji AS, Petkim said in a statement to the Istanbul Stock Exchange today.

Turcas Petrol AS (TRCAS), a Turkish fuel retailer owned by Aksoy Holding AS, sold its 25 percent stake in Socar & Turcas Enerji to the State Oil Co. of Azerbaijan, known as Socar, on Dec. 30. Turcas also bought 18.5 percent of Socar & Turcas Rafineri AS from Socar & Turcas Enerji, as part of a plan to shift its business from petrochemicals to fuel retailing and refining.

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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