11/7/2008

Requirement of 20-Million-Dollar guarantee in 10-Year National Lottery tender

(Hurriyet – PRNet) Privatization Administration launched a tender for the privatization of National Lottery for 10 years through licence transfer. Pre-qualification applications can be lodged until January 15. The deadline for the submission of bids is February 27. Bid bond amount in the tender is 20 million dollars. The licence covering games of chance that can be allowed in line with the legislation on lottery, Scratch and Win, and Numerical Games which belong to General Directorate of Lottery is going to be privatized as a whole. Only legal entities and joint venture groups can attend the tender. Total assets of the participant or the company he is affiliated to should be worth minimum 250 million dollars in 2006 or 2007. Sum of participant’s equity capital should be minimum 150 million dollars in 2006 or 2007. In case one of the partners of joint venture is an investment fund, sum of the “fund being managed” that belongs to investment fund should be minimum 2 billion dollars. Investment funds can hold maximum 40% shares in joint venture group.