Bloomberg News

Turkey May Offer Istanbul Asia Grid to Enerjisa, Vatan Reports

September 28, 2011

Sept. 28 (Bloomberg) -- Turkey’s state asset sales agency may offer the power grid on the Asian side of Istanbul to Enerjisa Enerji Uretim AS, the power company owned by Austria’s Verbund AG and Haci Omer Sabanci Holding AS, Vatan said.

The deadline falls tomorrow for Yildizlar SSS Holding AS, second-placed in a December auction for the grid, to pay the collateral needed to secure purchase rights for $1.8 billion, the newspaper reported, without saying how it got the information.

Should Yildizlar not pay, the agency will offer the network to Enerjisa, which was third in the auction, Vatan said. Enerjisa’s bid was $1.5 billion, compared with the winning bid of $1.8 billion by MMEKA Makina ?thalat Pazarlama & Ticaret AS.

--Editor:

To contact the reporter on this story: Steve Bryant in Ankara at sbryant5@bloomberg.net

To contact the editor responsible for this story: Steve Bryant at sbryant5@bloomberg.net


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