VOL. XLVI

No 32

11-August-2003

TURKEY

Turkey Recalls Petkim Privatization Tender

Turkeys Privatization Administration (PA) has recalled its tender for an 88.86% stake in the state-owned petrochemical company Petkim. A PA statement on 6 August said that the tender had been canceled when the firm that won the tender, Standard Kimya, owned by the Uzan family, failed to make a down payment on the $605mn sale before the expiry of the 30-day deadline. The PA announced last month that it would award the...