Deloitte with Socar on Italiana Petroli acquisition

State Oil Company of the Republic of Azerbaijan (SOCAR), Azerbaijan’s state-owned oil and gas company, has completed the acquisition of Italiana Petroli (IP) from Api – Anonima Petroli Italiana.

The transaction was supported by Deloitte through several cross-border teams in Switzerland and Italy, which assisted SOCAR from the due diligence phase through to closing.

The coordination of the transaction was handled by the Swiss team, led by M&A partner Chris Tattersall (pictured) and Gennady Kamyshnikov, with support from René Hintermann and Aleksandra Berger.

On the Italian side, the tax due diligence and structuring aspects were overseen by partner Giorgio Orlandini, with support from Francesco Maria Paggini; transfer pricing matters were handled by partner Roberto Monasterolo with Natasha Reuta; indirect tax matters were managed by partner Maurizio Bancalari with Giulia Emanuela Persico; while the analysis of tax incentives was led by partner Vito Marraffa.

Deloitte Legal also assisted SOCAR on employment law matters, with Partner Stefano Miniati.

The financial due diligence was conducted by partner Ettore Delucchi, with support from Luca Crispino and Lucia Livadaru.