Competition board approves sales

Competition board approves sales
Published: 22 December 2005

The Turkish competition board announced its decision on cement plants, which were previously owned by Uzan Group and offered for sale by the Saving Deposit Insurance Fund (SDIF). Considering antitrust regulations, the competition board approved sale of six plants to best bidders, while approving sales of two plants to second best bidders and annulling the sale of one plant. The board did not approve sale of Gaziantep cement plant neither to best bidder Sanko Pazarlama and nor to second best bidder Cimko Cimento. The antitrust body decided that Van cement plant could be transferred to second best bidder OCI Cimento instead of best bidder Limak Kurtalan and Ladik cement plant should be transferred to Turkerler Insaat instead of Akcansa Cimento. 
 
  The board approved the sales of Lalapasa plant to Cimentas for US$166.5m, Standart plant to Cimsa for US$175.5m, Bartin plant to Cimko for US$48m, Sanliurfa plant to Turkerler Insaat for US$158m, Ergani plant to Limak for US$120.8m and Trabzon plant to Askale Cimento for US$81.4m.