TURKISH-MALAYSIAN CONSORTIUM WINS HIGHWAY PRIVATIZATION TENDER
A consortium of Turkey's Koc Holding, Gozde Girisim of the Ulker Group and Malaysian UEM Group Berhad have emerged as winners in one of Turkey's largest privatization projects to date.
A package of assets comprising nearly 2,000 km of highway and two bridges over the Bosphorus will be operated by the consortium, who agreed to pay USD 5.72 billion in the bidding held in Ankara yesterday. Subject to approval by the relevant governmental bodies, the winning party will take over the operating rights from Turkey's General Directorate of Highways for 25 years
Malaysian UEM and Koc Holding A.S. each hold a 40 percent equity stake in the consortium, while the other Turkish partner Gozde Girisim of the Ulker Group, holds the remaining 20 percent stake.