Petkim Petrokimya Holding Anonim Sirketi (IBSE:PETKM) signed share sale and transfer agreement to acquire 30% stake in Rafineri Holding A.S. from SOCAR Turkey Enerji A.S. for $720 million on January 9, 2018. Under the terms of the agreement, the purchase price of $720 million with per share price of $0.63694 is to be paid in three equal installments. The first installment is to be paid by the signing of share purchase agreement, the second installment is due on the date on which testing at the STAR Refinery commences and the final installment will be done on the date of transfer of shares. As of September 19, 2018, the second installment will be paid until September 30, 2019. The second installment was made on September 27, 2018. As of March 7, 2019, the third installment will be paid on June 30, 2020. The transaction will be completed after getting the necessary approvals. The deal was approved by Petkim Board on January 9, 2018. The last day for closing is determined as March 31, 2019. As of March 7, 2019, the transaction is expected to close on June 30, 2020. DRT Kurumsal Finans Danismanlik Hizmetleri A.S. prepared valuation report for Petkim in the transaction.