Turkey Sells Bartin for $48m

Turkey Sells Bartin for $48m
Published: 13 October 2005

Turkey’s Savings Deposits Insurance Fund, or TMSF, sold the Bartin Cement Factory for $48m to domestic cement producer Cimko Cim. ve Beton San. Tic. AS, or Cimko the Ihlas News Agency, or IHA, reported Wednesday.   TMSF’s reserve price for Bartin Cement was $22m. The auction is part of the sale of the seized Uzan Group’s cement assets. TMSF will sell the remaining six factories in separate auctions until Oct. 20.