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The tender process of the minimum 88.86
% of the shares of Petkim announced by
January 20, 2003. 5 (Five)bids have been
received on due date April 2,2003. On
June 6, 2003, 3 proposals were taken to
the final tender. Following the auction
on June 06,2003. Standart Kimya Pet. Doğ.
San. ve Tic. A.Ş. has won the tender
process of PETKİM for the block sale of
88.86% of PETKİM shares.
However, due to failure of Standart
Kimya to fulfil the obligations in
certain period of time required by
PHC,PETKİM tender process has been
cancelled and the bid bond of Standart
Kimya which is the amount of 10 million
US Dollar has been forfeited.
The tender process of 88.86% of the
share of PETKİM Petrokimya Holding A.Ş.
via a block sale has re-opened on August
26, 2003 Due to insufficient number of
bids the tender was cancelled.
Secondary public offering of PETKİM
shares for 34.5 % has been completed on
April 2005.
PA has hired Ak Investment-Raiffeisen
Investment Consortium for privatization
operations of PETKİM on September 20,
2006.
Privatization tender of 51% of the
public shares of PETKİM, 44% of which
are owned by the Administration and 7%
of which are owned by The Republic of
Turkey, State Pension Fund through block
sale method has been announced by March
16, 2007. Open public tender had been
made on 5 July 2007 . Sale to second
highest bidder, Socar&Turcas-Injaz
Consortium, has been approved with
2.040.000.000 USD by Privatization High
Council with decision number 2007/63 on
22 November 2007. The transaction for
the block sale of the 51% of Petkim
Petrochemichal Inc. shares was concluded
on Friday May 30, 2008. Socar&Turcas
Petrochemical Inc..
Depending on the market conditions and
decision of PHC, the privatization
process of 10,32% will be finalized in
near future. |
