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Turkey's Government Expects TRY6.8 Billion Privatization Revenue in 2012

Date : 11/19/2012 @ 4:01PM
Source : Dow Jones News

Turkey's Government Expects TRY6.8 Billion Privatization Revenue in 2012

ISTANBUL--Turkey's government expects 6.8 billion Turkish lira ($3.77 billion) of revenue from privatizations this year, Finance Minister Mehmet Simsek said Monday.

In a press conference in Ankara, Mr. Simsek said the government plans to complete the sale of Bogazici and Gediz power grids this year.

The privatization revenue will be used to reduce the treasury's borrowing, Mr. Simsek said.

Mr. Simsek said the government has raised TRY4.5 billion revenue from the second public offering of state-run Turkiye Halk Bankasi AS (HALKB.IS), or Halkbank.

Halkbank's offering, for a 20.8% stake, attracted TRY11 billion demand and 55% of that demand came from London, 20% from the US and 9% from Singapore, Mr. Simsek said.

Write to Yeliz Candemir at yeliz.candemir@dowjones.com



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