ANKARA - Finance Minister Kemal Unakitan announced on Monday that the Higher Board of Privatization (OYK) approved sale of the Turkish Oil Refineries Corp (Tupras) to the Efremov Kautschuk GmbH group.
Releasing a statement, Unakitan recalled that a privatization notice had been issued on June 7, 2003 for privatization of Tupras's 65.76 percent ''Group A Administration share'' with ''block sale method'' and the deadline for submission of bids was October 24, 2003.
Noting that Efremov Kautschuk GmbH-Anadolu consortium had made the highest offer and talks with the bidding consortium had ended on January 13, 2004, Unakitan said, ''as a result of the final talks with the bidding sides, the Efremov Kautschuk GmbH gave a bid of 1 billion 302 million U.S. dollars to the Privatization Administration Board and the auction finished.''
''After getting permission of the Competition Board, the Privatization Administration Board sent its decision to the Higher Board of Privatization and it has approved the decision,'' he said.
Unakitan added that contract talks with the Efremov Kautschuk GmbH would start after the decision was published in the Official Gazette.
(MS-AÖ) 09.02.2004