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Tuca Advises on SOCAR Reacquisition of SOCAR Petroleum Shares in Romania

socarenergy.ch

Romania
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Tuca Zbarcea & Associates has advised the State Oil Company of Azerbaijan (SOCAR) as the company completed the reacquisition of subsidiary SOCAR Petroleum shares from Romanian shareholders.

According to SOCAR Petroleum, reacquisition of the last 10% of shares is now complete – leaving SOCAR in possession of 100% of all Romanian shares.

According to Hamza Karimov, General Director of SOCAR Romania, this deal was made as a part of SOCAR’s strategic approach to strengthening its position in the Romanian market. “The deal settled in early 2014 shows that our company has entered a new stage of development in the Romanian market,” Karimov said.

Romanian Knowledge Partner

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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