The U.S.' Lazard Asset Management increased its shares in Turkey's oil refiner TUPRAS from 4.77 percent to 5.38 percent, according to TUPRAS late on Thursday.
TUPRAS announced that Lazard Asset Management completed a purchase transaction for 1.5 million TUPRAS shares on Wednesday, June 6.
Lazard Asset Management's statement said the transaction was realized based on a share price of 104.50 Turkish liras ($23.23).
"As a result of this transaction, our shares owned in TUPRAS have exceeded the threshold of 5 percent," Lazard's statement read.
By Murat Temizer