Baku, Azerbaijan, Mar. 11
By Maksim Tsurkov – Trend:
Market value of SOCAR Trading SA, a marketing arm of Azerbaijan’s state oil company SOCAR, was $1.15 billion as of June 30, 2016, reads a message on the company’s website.
An unnamed Big Four accounting firm was entrusted to carry out valuation of SOCAR Trading’s business as of June 30, 2016.
The Big Four is a name to refer to EY, KPMG, PwC and Deloitte – the four largest professional services networks in the world, offering audit, assurance services, taxation, management consulting, advisory, actuarial, corporate finance and legal services.
“Fair value of SOCAR Trading amounted to $1.15 billion as of June 30, 2016. This means almost a fourfold increase in the company’s fair value from $310 million estimated previously,” reads the message.
SOCAR Trading was established in Geneva in December 2007. Its activities cover the US and countries in Europe and Asia.