|
PRIVATIZATION |
Privatization has been on Turkey's agenda since 1984. In addition to reducing the state's involvement in economic activities and providing a competitive business environment, Turkey’s privatization policy aims to relieve the financial burden of loss-making state enterprises on the national budget and to develop capital markets through wider share ownership. Between 1986-2004, 183 companies were privatized either via sales of share or through assets sale. There are no longer government stakes in 171 of these companies.
More than 40% of the privatization implementations in Turkey has been via block sale. Public offering and international offering had around 20% share each and asset sale has also been a method of privatization. International and domestic offering of the 12.3% state shares in Is Bank in May 1998 has been the largest public offering in Turkey. National Lottery Administration, Erdemir, Petkim, Turkish Airlines (THY) are the other items in consideration for privatization portfolio through public offering.
Since 1985, 9 billion USD of gross privatization revenues was realized. Some of these asset and share sales were made on installment payment and foreign exchange basis, and as of end of 2004, 14.3 billion USD of cash proceeds including dividend income, issued private bills, principal payments and extraordinary loans and grants as well as privatization revenues has been realized.
Source: Privatization Administration
As of April 2005, there are 30 companies in the privatization portfolio. There are also 6 Toll Motorways (Edirne-Istanbul-Ankara, Pozanti-Tarsus-Mersin, Tarsus-Adana-Gaziantep, Toprakkale-Iskenderun, Izmir-Çesme, Izmir-Aydin) and 2 Bosporus Bridges (Bogaziçi, Fatih Sultan Mehmet) that have been taken into privatization portfolio on February 2003.
|
COMPANIES IN THE PRIVATIZATION PORTFOLIO
|
|||
|
NAME OF THE COMPANY |
INDUSTRY |
SHARE OF PA(%) |
|
|
1) |
EBK Et ve Balik Urunleri A.S. (1) |
Meat, Fish, Poultry |
100 |
|
2) |
Hamitabat Elektrik Uretim ve Tic.A.S. |
Energy generation unit |
100 |
|
3) |
Kemerkoy Elektrik Uretim A.S. |
Energy generation unit |
100 |
|
4) |
Soma A ve B Elektrik Uretim ve Tic.A.S. |
Energy generation unit |
100 |
|
5) |
Sumer Holding A.S. (1)(2)(4) |
Textile, leather, ceramics, carpet |
100 |
|
6) |
Turkiye Demir Celik Isletmeleri Genel Mudurlugu |
Iron and Steel |
100 |
|
7) |
T. Denizcilik Isletmeleri - TDY (1) |
Maritime |
100 |
|
8) |
Turkiye Seluloz ve Kagit Fabrikalari (SEKA) (1) |
Pulp and paper production |
100 |
|
9) |
Tobacco, Tobacco products, Salt and Alcohol Enterprises Inc. (TEKEL) |
Alcohol and Tobacco Products |
100 |
|
10) |
Turkish Electricity Distribution (TEDAS) |
Energy Distribution |
100 |
|
11) |
TUGSAS Turkiye Gubre Sanayi ve Tic. A.S. (1) |
Fertilizer |
100 |
|
12) |
Yenikoy Elektrik Uretim A.S. (YEAS) |
Energy generation unit |
100 |
|
13) |
Eti Aliminyum A.S. |
Aluminum |
100 |
|
14) |
Turkiye Seker Fabrikalari A.S. |
Sugar processing |
99.99 |
|
15) |
KBI-Karadeniz Bakir Isletmeleri (1) |
Copper |
99.99 |
|
16) |
Adapazari Seker Fabrikasi |
Sugar processing |
94.09 |
|
17) |
THY-Turk Hava Yollari A.S. (1) |
Airline |
75.17 |
|
18) |
Basak Sigorta A.S. |
Insurance |
56.67 |
|
19) |
PETKIM Petrokimya Holding A.S. (1) |
Petrochemicals |
54.36 |
|
20) |
TUPRAS Turkiye Petrol Rafinerileri A.S. (1) |
Petroleum refining |
51 |
|
21) |
Kibris Turk Hava Yollari |
Airline |
50 |
|
22) |
Gonen Gida Sanayii A.S. |
Food |
49 |
|
23) |
Eregli Demir Celik Fabrikalari A.S. (1)(3) |
Iron and steel |
46.12 |
|
24) |
Basak Hayat Sigorta |
Life Insurance |
41 |
|
25) |
Yeni Celtek Komur ve Madencilik A.S. |
Iron and Steel |
16 |
|
26) |
Turk Arap Pazarlama A.S. |
Marketing |
12.5 |
|
27) |
Kayseri Seker Fabrikasi A.S. |
Sugar processing |
10 |
|
28) |
Komur Isletmeleri A.S. |
Coal mining |
10 |
|
29) |
T.Elektromekanik A.S. |
Electro-mechanics |
0.00029 |
|
30) |
T.Is Bankasi A.S. |
Banking |
0.000001 |
Source: Privatization Administration
1): Some of the shares of these companies have been privatized
2) 15 Participation Shares have been transferred to Sumer
Holding on March 12. 2001 3) Isdemir (Iron and Steel Company)
has been merged with Erdemir on January 31 2002 4) TURBAN (Tourism),
TZDAS (Agricultural Equipment) and TUMOSAN (Machinery) have been
merged with Sumer Holding on February 2003.
Updated information
about companies in the privatization portfolio and tender
announcements can be accessed through the web site of the web
site of Privatization Administration at www.privatization.gov.tr