Turkey - 05

Turkey: Daax Corporation Eyes a Piece of the Domestic Gas Market

Daax is appearing more frequently in discussions on Turkey’s gas sector. The company and its CEO, Umit Sonmez Inanc (see our Personality of the Week), featured in Genel Energy’s last four shareholder transactions. On 12 April and 26 May 2017, Inanc personally acquired around 5.08% of Genel’s shares, and Daax purchased another 26.90% on 31 May and 13 June 2017. Daax is owned by Hassan Gozal, an Iranian Kurd nominally based in Azerbaijan, where he has close connections to President Ilham Aliyev.

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