Middle East Economic Survey

VOL. XLIX

No 5

30-January-2006

TURKEY

Koc Secures Financing For Tupras PurchaseTurkeys Koc Holding has secured financing worth $4.3bn for the purchase of Tupras, Turkeys main refinery. In September 2005 Koc Holding and minority partner Shell won the tender from the Privatization Authority (PA) to purchase 51% of state-owned stock in the refining company for $4.14bn (MEES, 19 September 2005). In December Koc mandated JP Morgan to arrange a loan of $2.5bn and asked a...