Middle East Economic Survey
VOL. XLVII
No 49
6-December-2004
TURKEY
Turkish High Court Annuls Tupras Sale
Turkeys Council of State (Danistay) ruled on 26 November to uphold a decision by a lower court to annul the sale of state-owned refiner Tupras to a consortium comprised of the German chemical company Efremov Kautschuk, an affiliate of the Russian oil company Tatneft, and Turkeys Zorlu Group. The consortium won a privatization bid for the governments 65.76% of the refiner for $1.302bn earlier...
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