Turkey Financial News

Posted by meb at May 2nd, 2008

A communique issued by Turkey’s Privatization Authority on Thursday invited bidders to submit offers for the sale of two state owned electricity distribution companies, Meram Co. and Aras Co.,

Both companies will be privatized through block sale of shares.

Bidders interested in Meram Co., have to pay 10 million USD each as assurance to be able to partake in the tender. Meram operates in Kirsehir, Nigde, Aksaray, Konya, and Karaman (more…)

Posted by meb at May 2nd, 2008

Singapore is planning to take part in the upcoming privatization tenders for ports, energy, environment and banking in Turkey, Abdullah Tarmugi, Singapore’s parliament speaker, said Wednesday.

Halkbank, expected to be privatized later this year, is one of the targets Singapore is interested in, Tarmugi said in an exclusive interview with the Turkish Daily News.

“Privatization is the key in our business relations with Turkey. But we are also interested to explore joint ventures,” Tarmugi said. (more…)

Posted by meb at April 30th, 2008

Turkey may start the process of selling shares in state-owned Halkbank by the end of June, an official at the government’s asset sales agency said yesterday.

The agency is expecting a “development” in the Halkbank sale in the second quarter and is awaiting a government decision to proceed, Arzu Atik, a senior official at the agency, said at a conference in Istanbul yesterday, reported Bloomberg. The government may decide to sell its majority stake in Halkbank as a block or hold a secondary public offering to investors, she said. (more…)

Posted by meb at April 24th, 2008

The Privatization Supreme Board approved the sale of Turkey’s alcohol and tobacco monopoly TEKEL’s tobacco division to British-American Tobacco (BAT) on Thuesday.

BAT offered the highest bid with 1.72 billion USD and won the tender which was held to sell off TEKEL in February. (more…)