Turkey puts back Petkim bid deadline to 25 June

11 June 2007 12:50  [Source: ICIS news]

LONDON (ICIS news)--The Turkish Privatisation Authority has extended its deadline for receiving final bids for a majority stake in petrochemicals major Petkim by 10 days, a spokeswoman for the agency said on Monday.

 

The 18 companies and consortia that have already met the pre-tender requirements now have until 25 June to submit their offers.

 

The spokeswoman said the closing date had been pushed back as some of the potential investors needed more time to complete their research into the company.

 

The official list of interested parties includes INEOS, Basell, Carmel Olefins, Turkish oil refining firm Tupras and Tatneft.

 

Petkim is Turkey's largest petrochemicals company with a domestic market share of about 30%. The government sold 35% of company’s shares in April 2005 for $270m (€202m) via a public offering on the Istanbul Stock Exchange.

 

($1=€0.75)

By: Elizabeth Bains
+44 20 8652 3214

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