VOL. XLV

No 13

1-April-2002

TURKEY

Turkey Privatizes A Further 16.5% Of Petrol Ofisi

TheTurkish Government announced on 18 March that it had sold a 16.5% share of fuelretailer Petrol Ofisi for $183mn, reducing itsholding in the company from 42% to 25.5%.Some 8.25bn shares of the company were sold as part of Turkeys privatization scheme.Domestic investors purchased 79% of the available shares, while 21% wentto foreign buyers.The estimated marketvalue of Petrol Ofisi is $1.3bn-$1.5bn.In July 2000,...