11/16/2009

Turkey may have ‘one of the best years’ for asset sales

Bloomberg -Turkey may exceed its goal of selling USD 7 billion in state-owned assets next year, according to the acting chief of the agency in charge of sales. Income from power grids and sugar factories, plus revenue from earlier sales that will be paid in 2010 may make it “one of the best years for privatization”, said Ahmet Aksu, in an interview at his office in Ankara. “I believe we can comfortably reach the target and that power grid sales could be enough on their own”, Aksu remarked. The sale of three power grids at a total consideration of USD 1.2 billion on November 6 was “very satisfactory and demonstrated strong interest”, he added. The administration’s record for receipts in a single year was in 2005, when it earned USD 8.2 billion. So far this year it has garnered USD 2.3 billion, according to information published on its web site. Payment for three power grids sold recently is due in 2010 and combined with other scheduled income from earlier auctions of ports and land, the agency expects to receive around USD 3.6 billion from sales held previously, Aksu noted. Aksu has another 11 distribution networks on his agenda, including those in Istanbul and industrial regions such as Izmir, Antalya and Bursa. The agency plans to hold auctions for all of them next year, according to Aksu. They will be offered for sale in batches balanced between major networks that draw interest from foreign investors and smaller grids that may appeal to locals.

ENGLISH