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Highest bidder Aksa Elektrik abandons Bogazici Elektrik tender.

MANews-(C)2009-2011

1 November 2011 - Turkish power company Aksa Elektrik has walked away from the bidding race for the privatisation of power grid Bogazici Elektrik Dagitim after making the highest offer of USD2.75bn (EUR1.9bn), Reuters cited the countrya[euro](tm)s privatisation agency as saying.

The tender will go on with Park Holding, which placed the next highest offer of USD2.49bn for the grid, the agency said.

In the tender for the privatisation of power grid Trakya Elektrik Datigim, energy group IC Ictas with the highest bid of USD575m has requestedA until 31 December to advance a further deposit, the privatisation authority also said.Country: Turkey, Sector: UtilitiesTarget: Bogazici Elektrik Dagitim ASBuyer: Aksa Elektrik Deal size in USD: 2.7bnType: PrivatisationStatus: Terminated

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Publication:M & A Navigator
Date:Nov 1, 2011
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