No 34



HSBC Reports On Tupras Privatization Tender

In the run-up to the privatization of Turkeys Tupras refinery, HSBC Bank in London has prepared a study of the company. The Turkish Government has put 65.76% of its shares to tender in a block sale (MEES, 30 June) as part of its program to privatize a number of state-run industries. In its report, HSBC comments positively on the refinerys financial standing and says that it could be sold for more than its estimated...