Middle East Economic Survey


No 50



Koc Holding Mandates Banks For Tupras Purchase

Turkeys Koc Holding has mandated several banks to arrange loans that will be used to purchase 51% of the state-owned refining company Tupras. In September, Koc won the right to buy Tupras with a bid of $4.14bn (MEES, 19 September). Turkeys High Board of Privatization approved the sale in early November and Koc has until the end of the year to complete the transaction. On 7 December,...