SOCAR entitled to acquire control package of shares in SOCAR Energy Ukraine

The Ukrainian Anti-monopoly Committee has entitled SOCAR to increase its stake in SOCAR Energy Ukraine's authorized capital. This will allow it to acquire more than 50 percent of votes in the supreme governing body of the company, a statement posted on the official website of the committee said today.

A group of SOCAR Ukraine companies led by SOCAR Energy Ukraine plans to increase the number of filling stations in Ukraine under the SOCAR brand to 100 units in 2013.

Around 18 filling stations under the SOCAR brand were commissioned in Ukraine in 2012. Thus, at present, around 33 SOCAR filling stations operate in the Ukrainian fuel market. SOCAR Ukraine bought 32 filling stations in 2012. Their re-branding will be held in accordance with SOCAR corporate standards.

Adapted from: Vestnik Kavkaza