Azerbaijan's SOCAR to become the new owner of Glusco gas stations

According to a top manager of a trade structure from Azerbaijan, Socar New Energy Ltd (SNE), registered in Cyprus, will become the new owner of the Glusco filling station network, the companies have signed an agreement.

According to him, it took a long time to select a structure for this agreement, and settled on Socar New Energy Ltd. He clarified that the agreement provides for the purchase of 100% participation in Glusco Energy, which will soon be recorded in the registration documents of the Cypriot company.

In addition to the permission of the AMCU, in order to start working in Ukraine, Socar New Energy also needs to formally obtain approval from the antimonopoly authorities of Georgia, Turkey and several other countries where Socar operates.

Source: Epravda

Farid Akbarov