Goldman Sachs buys stakes in Turkish Aksa Enerji

Hürriyet - Global investment and securities firm Goldman Sachs has acquired a 13.3 percent share in Turkish utility company Aksa Enerji for USD 240 million. The acquisition of shares drove the Kazanci Holding subsidiary’s valuation up to USD 1.8 billion level.

Under the terms of the deal, Goldman Sachs reserves the right to sell the stakes back to Kazanci Holding for the same price after a period of six years. The deal also covers a USD 400 million loan for Kazanci Holding, financed by a consortium formed by Goldman Sachs, Garanti Bank and Is Bank.