# Tekfen acquires 10% stake in SOCAR Polymer

Turkish company Tekfen Holding acquired a 10% stake in SOCAR Polymer, with 5% from SOCAR and 5% from Pasha Holding. SOCAR Polymer operates a complex in Azerbaijan producing polypropylene and high-density polyethylene, with total investment of about $816 million.

- Type: Acquisition
- Announced: 2019-12-16
- Where: Baku, Azerbaijan, Azerbaijan
- Status: announced
- Capacity: 180,000 tons polypropylene and 120,000 tons high-density polyethylene per year
- Products: polypropylene, high-density polyethylene
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md), [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Tekfen](https://endata.com/companies/6289.md) (acquirer)
- [SOCAR](https://endata.com/companies/7439.md) (partner)
- [SOCAR-Polymer](https://endata.com/companies/19564.md) (target)
- [Pasha Holding](https://endata.com/companies/43941.md) (partner)

## Sources

- [erp.alba.az](https://erp.alba.az/en/news/38003), 2019-12-16: "A document was signed at the company's head office on the acquisition of a part of SOCAR Polymer’s shares by Turkish company Tekfen."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.