10/22/2008

Competition Authority allowed for the transfer of Izmit Gaz’s shares

Reuters - Competition Authority has announced that Izmit Gaz Dagitim San. ve Tic. A.S.’s (Izgaz) total shares are allowed to be transferred to GDF International SAS, a GdF Suez company which made the highest bid during the tender for sale. GdF Suez, which made the highest bid that was $232 million during the tender held for Izgaz’s privatization, also accepted to pay off Izgaz’s debt to the Treasury which amounted to $317 million.

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