Baticim places best bid for Limas port

Baticim places best bid for Limas port
Published: 09 May 2006

Turkish cement producer Baticim gave the best bid of US$45.25m for Limas, which operates a port in Izmir. The best bid was well above the minimum estimated value of USD 32m, set for the company before the tender by the SDIF (Saving Deposit Insurance Fund). Three companies, namely Baticim, Eren Holding and Cer Celik, out of five, which placed bids for Limas, participated in the open bidding session. The SDIF offered the company for sale via asset sale. Limas was seized from Uzan group against the group’s debt to the state.