ISTANBUL - The Savings Deposit Insurance Fund (TMSF) will reinvite bidders on Tuesday for the sale of former Carlton Hotel plot in Istanbul, which belonged to Toprak Group, said TMSF in a statement on Monday.
The plot was up for auction two times in April 2007 by TMSF, but no one bought it.
TMSF reminded that the estimated value of the plot was set as 49.56 million YTL (one USD equals 1.33 YTL), however, the plot was mortgaged by Turkish banks Is Bankasi, Garanti Bankasi and Etibank. It said the mortgage was worth 96 million YTL.
If the plot can not be sold on Tuesday, TMSF will hold a another auction on May 29th.