Turkish energy firm Yildizlar SSS Tuesday submitted a $2.075 billion bid to acquire 100% control of state-run electricity distribution company Toroslar Elektrik Dagitim AS.
Turkish energy firm Yildizlar SSS Tuesday submitted a $2.075 billion bid
to acquire 100% control of state-run electricity distribution company Toroslar
Elektrik Dagitim AS.
The result marked the second of three final tenders being held by
Turkey
's
Privatization Administration, or OIB, for the privatization of state-owned
power-distribution grids, including the anatolian side of
Istanbul
grids
and Akdeniz, which operates on the Mediterranean coast. Toroslar operates in
the southern cities of
Adana
,
Antep,
Mersin
,
Kilis and Osmaniye.
Turkish energy joint venture MMEKA Makine AS earlier Tuesday registered the
highest bid of $1.813 billion to take sole control of an electricity grid in
Turkey
's
largest city,
Istanbul
.
Yildizlar SSS, a construction and mining company competed with 13 other
companies for the Toroslar grid, which has 2.7 million customers, according to
OIB.
Five of the 13 companies were eliminated in the first round. Yildizlar SSS won
the tender, which sold operational control of the grid until 2036, after the
remaining eight companies, including Turkish energy firm MMEKA and Enerjisa, a
partnership between Austrian utility Verbund AG (VER.VI) and an energy company
owned by Haci Omer Sabanci Holding AS (SAHOL.IS), withdrew.
The agency will hold the last tender to sell western-Mediterranean power
distribution company Akdeniz Elektrik Dagitim AS at 1430 GMT.
OIB said it had received 11 bids for AYEDAS grid and 15 bids for Akdeniz grid.
The Turkish government hopes to encourage privatizations, which slowed last
year due to the global financial crisis and lack of investors from developed
markets, to help maintain fiscal discipline as well as increase capacity while
the economy recovers and domestic demand grows.
A spokesman from Yildizlar SSS told reporters the company's bid in the tender
was within their feasibility calculations.
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