Turkey Gears Up For Privatizations, Starting With Electricity Distribution

Lizbon Büyükelçiliği 14.10.2009
The Turkish Privatization Administration (OIB) has sped up its studies to implement privatizations worth TRY 10 billion, which are planned to be implemented in 2010. The OIB has put out tenders for the electricity distribution companies Coruh Elektrik Dagitim, Osmangazi Elektrik Dagitim and Yesilirmak Elektrik Dagitim, as well as several sugar factories.

“We have already surpassed the pre-set privatization value for 2009, which was TRY 4.5 billion. We will see more activity in November and December”, said an official from the OIB.

The OIB has appointed a consortium consisting of Citi Group-Oyak, Yatirim-Master and Danismanlik-Socoin as advisers for the planned tenders.

OIB announced that October 20, 2010 will be last day to bid for Coruh Elektrik Dagitim-Osmangazi Elektrik Dagitim, owned by the Turkish Electricity Distribution Company (TEDAS) and Yesilirmak Elektrik Dagitim. The last day to bid for the sugar factories in Kastamonu, Kirsehir, Turhal, Yozgat, Corum and Carsamba has been announced as November 19, 2010, while the last day to bid for tobacco facilities in Camalti and Ayvalik is December 4, 2010.

The privatization target was set at TRY 4.3 billion, TRY 10.4 billion, TRY 9.4 billion and TRY 8.9 billion for 2009, 2010, 2011 and 2012 respectively. Ziraat Bank is still waiting to be privatized, as another privatization wave is expected to roll in with sales of telecommunications and harbor establishments.

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