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SOCAR-Owned Firm Set For Reorganization
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, March 17. SOCAR Midstream
Operations Limited Liability Company (hereinafter SMO) is being
reorganized in the form of its separation from SOCAR Midstream Gas
Operations Limited Liability Company (hereinafter SMGO), Trend reports via the
company.
Per the corporation's disclosure, subsequent to the structural realignment, SMO's charter capital experienced a contraction from 59.5 million manat ($34.9 million) to a nominal 1,000 manat ($588).
Furthermore, the entitlements and responsibilities were
allocated to SMGO in alignment with the division equilibrium.
It is pertinent to highlight that the aforementioned entity was
incorporated in the year 2014.
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