A consortium led by Turkey's Gubre Fabrikalari T.A.S (GUBRF.IS) made the highest offer of 6.350 trillion Iran Rials ($680.75 million) in an auction for Iran's Razi Petrochemical, the Ihlas News Agency, or IHA reported.
In a statement to the Istanbul stock exchange, or IMKB, chemical fertilizer and phosphoric acid manufacturer Gubre Fabrikalari said the final approval process for the auction continues.
At 1002 GMT, Gubre Fabrikalari shares were trading 2.6% higher at TRY11.7, amid a 0.8% lower overall market.
Gubre Fabrikalari has two manufacturing units located in the Turkish cities of Yarimca and Iskenderun.