SDIF Takeover Administration Of 219 Firms Of Uzan Group

ISTANBUL - Savings Deposit Insurance Fund (SDIF) took over the management Saturday of 219 companies owned by the Uzan group. SDIF appointed trustees to four separate groups of the Uzan group.
SDIF said in a statement that Saturday`s takeover was aimed at collecting owed money stemming from embezzlement at the group`s flagship bank, Imar Bankasi. The bank was taken over last year.
Under the takeover procedures, the 219 companies will be run by trustees, whose priority will be to collect revenues. Trustees can also liquidate any company.
Security officials took measures in companies, television, newspaper and GSM companies which Uzan family owned.
(AY) 15.02.2004