Posted by meb at March 26th, 2008

The Council of State rejected yesterday an appeal of the Nov. 22, 2007 Supreme Privatization Board (ÖYK) decision to sell petrochemicals producer Petkim to the SOCAR-Turcas-Injaz consortium.

The Union of Petroleum, Chemicals and Rubber Workers (Petrol-İş) had appealed the sale of 51 state shares in Petkim to the SOCAR-Turcas-Injaz consortium.The Council of State rejection statement said there were no restrictions on companies in the winning consortium from participating in the privatization tenders. The statement said Turcas Petrolcülük (previously TABAŞ Petrolcülük) was prohibited from participating in the privatizations according to a Highways General Directorate statement published on Oct.15, but Turcas Petrolcülük did not have any partnership in the said consortium. The statement added the prohibition was for the company, not its owners. The statement emphasized that the ÖYK decision did not contradict the law.

source: Today’s Zaman

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