Tuca Zbarcea & Associates has advised the State Oil Company of Azerbaijan (SOCAR) as the company completed the reacquisition of subsidiary SOCAR Petroleum shares from Romanian shareholders.
According to SOCAR Petroleum, reacquisition of the last 10% of shares is now complete – leaving SOCAR in possession of 100% of all Romanian shares.
According to Hamza Karimov, General Director of SOCAR Romania, this deal was made as a part of SOCAR’s strategic approach to strengthening its position in the Romanian market. “The deal settled in early 2014 shows that our company has entered a new stage of development in the Romanian market,” Karimov said.