Baskent Electricity sold tender for $1.2 billion

Hurriyet English - Open bidding held during the final bargaining hours for the privatization of the Baskent Electricity Distribution Corporation (Baskent EDAS) via the bloc sale method saw the highest bid ($1.225 billion) offered by the joint venture of Haci Omer Sabanci Holding A.S., Osterreichische Elektrizitatswirtschafts, Aktiengesellschaft (Verbund) and Enerjisa Energy Production Corporation. The open bidding was held at the headquarters of the Privatization Administration (OIB) where OIB Deputy President Ahmet Aksu acted as the head of the tender commission. Following the bid given by the Sabanci-led consortium, Hema Corporation requested a break after which it decided to withdraw from the tender. The representative of the Akcez Joint Venture Group, which asked for a break in the first round, stated that they, too, were withdrawing. Thus, the first privatization tender in the electricity distribution field was technically completed.