The sale of the fuel giant was canceled when millions of dollars in debt emerged.

As news of fuel giants operating in Turkey in 2024 continues to emerge, the sale of Turkey Petroleum, following BP's exit from the country after 111 years, has also created a significant stir in the sector.

NEARLY 700 FUEL STATIONS

With the contract signed in July, Zeren Group announced that it has acquired Turkey Petroleum, which has nearly 700 fuel stations and 8 filling facilities in the country, and this agreement was approved by the Competition Authority on November 19.

SURPRISE STATEMENT FROM ZEREN GROUP

As of 2025, the transfer of fuel stations is expected to be completed as soon as possible, while a surprise statement came from Zeren Group. In a statement made by the company, it was noted that the process of purchasing shares of TP Petrol Distribution Inc. has been decided to be terminated. The statement indicated that the process of transferring the shares has been decided to be concluded.

MILLIONS OF DOLLARS IN DEBT NOTICED AT THE LAST MINUTE

In a statement made by the company, it was mentioned that negotiations were held with Zülfikar Holding, which currently owns Turkey Petroleum, but this decision was made due to unmet expectations. On the other hand, Patronlar Dünyası claimed that the sale was canceled due to the last-minute realization of Turkey Petroleum's millions of dollars in debt.

According to the claim, as the final stages of the purchase process were reached, Zeren Group discovered millions of dollars in debts that were not disclosed to them by Zülfikar Holding during their investigations.