National lottery bid nearly ready
Posted by meb at September 9th, 2008
Preparations for the privatization of Turkey’s national lottery, Milli Piyango, are nearly ready and the tender process is expected to be launched shortly, a senior government source said yesterday.
Another source close to the tender process confirmed the information.
A draft decree on the transfer of the Milli Piyango license has been completed and this will be published in the Official Gazette soon after the Supreme Privatization Board, or ÖYK, gives go-ahead for the tender, one of the sources told Reuters.
Milli Piyango posted sales of YTL 459.8 million ($306.65 million) and YTL 331.8 million net profit last year and its sale is expected to interest several foreign and local bidders.
Companies interested in the tender include GTech-Lottomatica, Essnet-Tattersall, Scientific Games, Camelot, Opap, Intralot, Turkey’s Koç Holding, Austrian Lotteries, Sisal, Doğuş Group, Alarko and Çukurova Group.
Milli Piyango’s license will be granted for 10 years, and the winning firm will receive 17 percent of the company’s revenues with the rest to be divided between various state institutions.
The sell-off is part of a wide privatization program, stalled this year due to lack of foreign interest, a credit crunch in the world markets and acute domestic political uncertainties.
source: Turkish Daily News
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