IP strikes to the Azeri: signed the settlement for the sale to Socar | EUROtoday

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There is an finish to the negotiation between Socar and API Holdings for IP: the Azera firm has the truth is introduced the signature of an settlement for the acquisition of 99.82% of the shares of Italian Petroli (IP) by the managed group by the Brachetti Peretti household.

The operation, reads a notice, is conditioned to acquire the mandatory regulatory authorizations (on antitrust, overseas grants and Golden Power) and it’s estimated that closing can intervene inside the first quarter of 2026.

“Acting in continuity”

“Socar”, reads, “intends to act in continuity to preserve and enhance the strong market position of IP and its reputation, ensuring a stable supply of high quality services to its customers, partners and stakeholders and will preserve employment levels and, in line with the group’s strategy, the protection of the environment will remain a priority for its activities in Italy”.

“This acquisition”, writes the Azero group, “represents an important milestone for the growth of Socar within the European energy market and reflects the commitment in strengthening bilateral economic relations between Azerbaijan and Italy, as well as a strong contribution to the energy safety and the sustainable development of Europe”.

Diversification technique

«The acquisition of Italian Petroli is a vital step in our worldwide diversification technique. It displays our lengthy -term dedication within the improvement of a aggressive, revolutionary and accountable enterprise that contributes to the vitality safety of Europe and additional strengthens the partnership between Azerbaijan and Italy “, says Rovhanan Najaf, president of Socar.