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Kazanci to shed part of holding in Aksa Enerji.

M2 EQUITYBITES-May 20, 2013-Kazanci to shed part of holding in Aksa Enerji(C)2013 M2 COMMUNICATIONS

20 May 2013 - Turkish conglomerate Kazanci Holding AS on Monday said it is selling a 16.3% interest in domestic Aksa Enerji Uretim AS, which would still leave it with a majority stake in the power utility.

Kazanci, which currently owns 81.5% of Aksa, has hired Merrill Lynch to handle the process, it said in a bourse filing. A roadshow will be held between 20 May and 24 May 2013, targeting international corporate investors, the company said.

The conglomerate noted that no public offering was on the agenda.

Aksa Enerji's other major shareholder is Goldman Sachs International with a 13.3% stake. Five percent of the power producer is traded on the bourse in Istanbul.

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Publication:M2 EquityBites (EQB)
Date:May 20, 2013
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