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Euronews
Euronews
Saida Rustamova

SOCAR acquisition of Italy’s Italiana Petroli finalised after EU clearance

Socar European Union Italy Europe Azerbaijan

SOCAR has completed the acquisition of a 99.82% stake in Italiana Petroli (IP) from API Holding, finalising a major deal that expands Azerbaijan’s presence in Europe’s downstream energy market.

The transaction was completed after receiving all required regulatory approvals, including clearance from the European Commission under EU merger rules.

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