SOCAR raises its share in Baku Shipyard

On October 28, 2019, the State Oil Company of Azerbaijan (SOCAR) increased its share in the Baku Shipyard LLC by 17.26% from 70.21% to 87.47%, Report informs, citing the consolidated financial statements audited by “Ernst&Young” (E.Y.).

Baku Shipyard LLC was established in 2010. Other shareholders of the LLC include Azerbaijan Investment Company (8.95%) and K.V. Enterprises B.V. (3.58%-Singapore).