Middle East Economic Survey
VOL. XLVIII
No 38
19-September-2005
TURKEY
Shell-KOC Consortium Makes Highest Bid Of $4Bn For Tupras Refinery
A consortium consisting of Shell and Turkeys KOC holdings on 12 September made the highest bid of $4.14bn in an auction for a 51% stake in state-owned refinery Tupras which is valued at around $3bn. Turkeys Privatization Authority had received nine bids from four consortiums comprised of: Turkish retailer Petrol Ofisi and the Tupras Acquisition Consortium (TAC);...
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