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Two Petkim Board Members Resign After Owner Turcas Sells Stake

Jan. 9 (Bloomberg) -- Erdal Aksoy and Saffet Batu Aksoy resigned from the executive board of Petkim Petrokimya Holding AS, 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, 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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