Turkey's Competition Board has approved the sale of state-run
petrochemical firm Petkim to the second highest bidder in a
privatization tender held in July, officials from the board said
Friday, the Ihlas News Agency, or IHA reported.
In the privatization tender Kazakh-Russian consortium
Transcentral Asia Petrochemical Holding submitted the highest bid of
$2.05 billion for a 51% controlling stake in Petkim while the second
highest bidder was a consortium of Azeri energy firm Socar, Saudi-based
Injaz Projects and Turkish energy company Turcas with $2.04
billion.
The deal still needs final approval from the Supreme Board
of Privatization, which is comprised of privatization officials and
relevant cabinet members including the Prime Minister.