Six Groups Interested in Turkey's Baskent Dogalgaz Privatization Tender

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Researched by Industrial Info Resources (Sugar Land, Texas)-- Turkish liquified petroleum gas company Aygaz (ISE:AYGAZ) (Istanbul,Turkey) plans to bid for Ankara's natural gas operator Baskent Dogalgaz Dagitim's tender and by Ankara municipality to sell the remaining 20 percent with Fernas Group, a real estate group which also has interests in energy.

In an official filing to the Istanbul Stock Exchange, Aygaz said that two companies have signed a letter of intent for the bidding process. Aygaz will have a majority stake in the consortium, it said. Turkey's Privatization Authority will sell 80 percent of the Baskent Dogalgaz stake which already in its portfolio.

Zorlu Enerji (ISE:ZOREN)(Istanbul, Turkey), a subsidy of Turkish conglomerate Zorlu Holding, which has interests in energy, real estate, electronics, will plan to bid in Baskent Dogalgaz Dagitim's tender, according to the people familiar with the matter.

Also, Torunlar Group, a real estate company, Akfen Holding, Cengiz Insaat-Limak Holding-Kolin Insaat consortium, a consortium formed by Turkish building company STFA and China's Enn have interests in Baskent Dogalgaz, according to sources.

Baskent Dogalgaz Dagitim's bidding process will end April 16. Previously, the Privatization Authority of Turkey auctioned Baskent Dogalgaz Dagitim two times, but the winning bidders were not able to pay the amount that they offered. In 2010, Turkey sold off rights to operate nearly 20 percent of its power grids, raising more than $5 billion through tenders.

For further reading, see Feb 6, article -Turkey's Largest Electricity Grid Privatization Continues to Suffer Setbacks.

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