Sabanci Group offers $175.5m

Sabanci Group offers $175.5m
Published: 12 October 2005

The Turkish Savings and Deposit Insurance Fund (TMSF) held a tender for the Standart Cement plant, previously seized from the Uzan family. Some 22 companies submitted their bids for the privatization of the Standart cement factory, which was put up for sale at a price tag of $62m. Sabancı Group, Turkey’s second largest, made the highest bid in the auction to buy the Standart Cement factory, which is located in the province of Eskisehir.