ANKARA - The technical preparations regarding the privatization of the cigarette factories of Tobacco, Tobacco Products, Salt and Alcohol Enterprises Incorporation (TEKEL) of Turkey, has been completed.
As a result of the activities carried out by the Turkish Privatization Administration, TEKEL`s cigarette factories will be sold as a whole.
While the related specification was finalized, officials state that the privatization tenders might be opened in 15 days if the political authority makes it decision.
Underscoring that TEKEL`s privatization will be actualized after the elections, officials stress that a total of 5 investors are closely interested in the process, 2 of which are foreign investment funds, 1 both a fund and an investor and 2 are investors that operate in different sectors with local partners in Turkey.
"Presence of numerous foreign investors who are eager to participate in the privatization process, creates an expectation for a higher price," sources indicate.
On the other hand, TEKEL`s immovables will be sold separately from the cigarette facilities.
Officials from the Turkish Privatization Administration emphasize that the activities regarding the sale of immovables will be completed in 2 months, adding that they expect a tender to be opened afterwards.