Turkey progressing with privatisations

Apr 20, 1998 02:00 AM

Turkey's High Board of Privatisation (OYK) will meet to discuss the strategies in the sell-off of 3 largely state-owned petroleum companies, officials in the prime minister's office said.
"The board is expected to approve completed privatisations of some state companies, and discuss the petroleum sell-offs," an official told.
They said the body, chaired by Prime Minister Mesut Yilmaz and consisting of 5 government ministers, would discuss how to go ahead with the privatisations of petroleum marketer Petrol Ofisi, oil refiner Tupras and petrochemicals maker Petkim.
The government plans to split Tupras into 4 companies, one for each of its 4 refineries. A similar strategy is programmed for Petkim's 2 plants. The OYK is expected to decide on the divisions of the plants.
The board will also take up a government tender opened on March 17 to sell 51 % of Petrol Ofisi in block sale. The deadline for bidding was on May 7.
The officials said about 20 companies including local and international oil companies had obtained terms for Petrol Ofisi tender.

Source: not available
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