For owners in Azerbaijan
Turkish groups invest in Azerbaijan and Azerbaijani groups invest in Turkey. Orion works in Turkish and English, knows who buys in Turkey, and reaches buyers in Europe and the Gulf through the Globalscope network.
Start a confidential conversation →Transactions in Turkey by buyers from the Caucasus and Central Asia, January 2025 to September 2026.
Sources: Central Bank of Azerbaijan via Interfax (2025 flows); Turkish Ministry of Foreign Affairs (cumulative, 2025); Azerbaijan’s foreign minister via Trend (15 September 2026).
Between Azerbaijan and Turkey
| Transaction | Buyer | Value | Date |
|---|---|---|---|
| İç Anadolu power plant (870 MW), 100% | SOCAR Türkiye | USD 225m | Signed Dec 2025 |
| PASHA Yatırım Bankası, to 71.75% | PASHA Holding | Not published | 2023 |
| Gazelle Energy (Thrace gas block), 25% | GL Group | Not published | Oct 2024 |
| Transaction | Buyer | Value | Date |
|---|---|---|---|
| Shafag-Asiman gas block, 30% | TPAO | Not published | Jun 2025 |
| Starex, 100% | Aras Kargo | Not published | 2023 to 2025 |
| E-commerce joint venture with PASHA Holding | Trendyol | Not published | Apr 2023 |
| Azersun’s welding company | Gedik Holding | Not published | Oct 2023 |
| Transaction | Buyer | Value | Date |
|---|---|---|---|
| Absheron gas field, 30% | ADNOC (now XRG) | Not published | Announced Aug 2023 |
| Joint investment platform with AIH, 50% | ADQ | USD 1bn | Dec 2023 |
Values as published; sources are linked.
Before a sale
Azerbaijan’s Competition Code has applied since 1 July 2024. A transaction needs prior approval if, among other tests, one party’s turnover in the relevant market exceeds AZN 25m, the parties’ combined domestic and worldwide turnover exceeds AZN 35m, or one party’s domestic turnover exceeds AZN 15m and another’s AZN 5m. A dominant position or a combined 20% market share can also require approval. Review takes 30 business days and can be extended twice.
There is no general screening of foreign investment and a foreign buyer may own 100% of a limited liability or joint stock company. Media, insurance, banking and a few other sectors carry their own limits, and foreigners lease land rather than own it.
Few Azerbaijani deal prices are published and trading on the Baku Stock Exchange is mostly repo, so public valuation benchmarks are scarce. Value is built from the company’s own cash flows and from comparable transactions in Turkey and the wider region.
A decree of 31 August 2023 opened state companies including ABB, Aztelecom, ASCO and AzerGold to private investment. ABB has since listed on the Baku Stock Exchange, raising AZN 56.5m in September 2024.
Companies resident in the Alat Free Economic Zone pay no taxes or customs duties and have their own dispute bodies. Turkish investors are among the residents.
General information as published by the sources linked, read 03.10.2026; not legal advice. Your counsel confirms what applies to your company.
How we work for you
In Turkish or English, confidential, and under an NDA if you prefer.
Figures restated in US dollars, a reasoned value range, and the questions a buyer will ask answered in advance.
Strategic buyers in Turkey we know, and buyers further afield through Globalscope member firms in 51 countries.
A confidential process run with your own counsel in Baku, through approvals to completion.
What owners ask us
Yes. Turkey was the second-largest source of foreign direct investment into Azerbaijan in 2025, and published deals range from energy and logistics to e-commerce and manufacturing. Most prices are not published.
In most sectors, yes: a foreign buyer may own 100% of a limited liability or joint stock company. Media, insurance, banking and a few other sectors have their own limits, which your counsel confirms for your company.
If the turnover thresholds in the Competition Code are met, yes, before completion. We plan the timetable around the review with your counsel.
From the company’s own cash flows and from comparable transactions in Turkey and the region, in US dollars, with the exchange-rate basis stated. A buyer will test the same things.
A first conversation is confidential and carries no obligation.
