Fuel giant sells shares: New partner found
Euroil, which declared bankruptcy protection in April, has transferred 20 percent of its shares to ICU Venture Capital Investment Trust for 120 million TL. The financial status of the company, which has over 100 fuel stations, will be re-evaluated in July.
While the fuel sector in Turkey is experiencing active days, another deal has come from Euroil following the share sale of Alpet.
Euroil, an important brand in the fuel sector that declared bankruptcy protection in April and was granted a 3-month temporary grace period by the Istanbul Anadolu 3rd Commercial Court of First Instance, has sold 20 percent of its shares to ICU Girişim Sermayesi Yatırım Ortaklığı A.Ş.
It was learned that 120 million TL was paid in exchange for 20 percent of Euroil Enerji.
HAS OVER 100 FUEL STATIONS
Euroil Enerji operates nearly 100 fuel stations, mostly in rural areas. It is also known that the company has storage facilities in Mersin, Gaziantep, and Kırıkkale. Following the sale, the 3-person bankruptcy commissioner committee appointed by the Istanbul 3rd Commercial Court of First Instance will conduct a new evaluation of the company's financial statements in July.
News Source: 12punto
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