SOCAR today announces the completion of the acquisition of 99.82% of the shares of Italiana Petroli (IP) from API Holding. The transaction has been finalized following the receipt of all required regulatory approvals.
With a history spanning more than 90 years, IP Group plays a significant role in Italy`s mobility and energy security, operating an integrated industrial logistics system that includes two refineries, storage facilities, and an extensive nationwide retail network.
Following its acquisition by SOCAR, IP has become part of an international group, strengthening the company’s presence in the European energy market.
