MEKA Makina offered the highest bid in the privatization tender for Ankara's natural gas distribution company Baskent Dogalgaz on Monday.
MEKA, MMEKA Makina Ithalat Paz. ve Tic. A.S. offered 1 billion 211 million U.S. dollars for 80 percent of Baskent Dogalgaz.
Seven companies; MEKA Makina, AKSA Dogalgaz, YILDIZLAR SSS Holding, FERNAS Insaat, AKFEN Holding, GENPA Telekomunikasyon and LIMAK Yatirim competed in the tender.
Baskent Dogalgaz, country's second-largest gas distribution company, distributes natural gas to 1.2 million homes. The company, which operates a network of 8,300 km, sold 2.1 billion cubic meters of gas last year.
In an earlier tender in March 2008, a consortium led by Turkey's Global Yatirim Holding bid $1.61 billion for the Turkish capital's gas distribution grid. Six consortiums and companies competed in the auction held by Ankara Municipality. Akfen Holding, Calik Enerji, Gaznaturel-Nural, Limak and Elektromed were the other bidders in the auction.
The second highest bidder Elektromed's offer was $1.55 billion.
Turkey's Competition Board approved the privatization of the company in July 2008.
After several legal problems occurred during block sale of Baskent Dogalgaz to Global Yatirim Holding, the auction was awarded to the runner-up Elektromed, however, Ankara Municipality cancelled the tender.
AAGüncelleme Tarihi: 16 Ağustos 2010, 16:26