Turkey's Petkim selects advisors for privatisation

25 September 2006 10:19  [Source: ICIS news]

LONDON (ICIS news)--Petkim has selected two investment firms to oversee its planned privatisation and is expected to sign deals in the near future, the Turkish state-run petrochemicals firm said on Monday.

 

Ak Investment Securities and Raiffeisen INV were chosen to act as main consultants on the divestment of the government’s 54.8% stake, along with the 7% held by civil servants pension fund Emekli Sandigi.

 

The Turkish government sold around 35% of Petkim’s shares in April 2005 via a public offering on the Istanbul Stock Exchange.

 

The privatisation is expected to be launched at the end of 2006 or the beginning of 2007.

 

By: Mark Watts
+44 20 8652 3214

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