Eight parties submit final bids for Petkim

26 June 2007 17:24  [Source: ICIS news]

LONDON (ICIS news)--The Turkish Privatisation Authority said on Tuesday that it has received eight final bids from companies and consortiums interested in acquiring a controlling stake in petrochemicals major Petkim.

 

The deadline for the submission of bids expired today. The block sale of 51% of shares in the company is expected to be concluded within seven-to-10 days.

 

The eight bidders are: Carmel-Limak consortium; TransCentralAsia Petrochemical Holding; Zorlu Holding; Hokan Chemicals; Calık-IOCL consortium; Naksan-Torunlar-Toray-Kiler consortium; Firat Plastik; Kaucuk Sanayi ve Ticaret; and the Socar & Turcas-Injaz consortium

 

Ankara received 18 prequalifying bids, including offers from INEOS and Basell.

 

Petkim is Turkey's largest petrochemicals company with about 30% share of the domestic market.

 

By: Elizabeth Bains
+44 20 8652 3214

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