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Petkim sells stake in Petlim Port in Turkey to Goldman Sachs

7:41 AM MDT | July 21, 2014 | Natasha Alperowicz

Investment banking group Goldman Sachs has become a partner in Turkey’s largest integrated port, operated by Petkim, the country’s leading petrochemicals producer. The deal will boost the company’s plans to develop the port into the largest in the Aegean region. Petkim has reached a preliminary agreement to sell a 30% stake in Petkim Limancılık (Petlim) for $250 million, following discussions with Goldman Sachs, which started in February. Petkim and Petlim are controlled by Socar, the energy group of Azerbaijan. The Petlim Port was created to...

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