Petkim becomes indirect 12% shareholder of STAR Refinery

The significant share purchase transaction announced by Petkim in 2018 was finalized today after all conditions were fulfilled. With the share purchase transaction, Petkim became an indirect 12% shareholder of STAR Rafineri A.Ş., Turkey's second largest industrial enterprise according to the ISO 500 report. In previous years, Petkim had made a prepayment of USD 480 million for this important investment in the strategically important refinery sector. The effects of this transaction regarding Petkim's partnership in STAR Refinery, which is also Petkim's most important raw material supplier, will start to be reflected in Petkim's consolidated financial statements as of the 4th quarter of 2023.