Privatization of Dicle Electricity Distribution Company ends

Iskaya Dogu OGG offered the highest bid - 387 million USD - at the final bargaining meeting for the privatization of Dicle Electricity Distribution Company, on Friday.

Started on Friday morning, the meeting ended at around noon.

A total of six companies attended the meeting and Ibrahim Halil Kirsan, deputy President of Turkey's Privatization Administration headed it.

Written bids were submitted in closed envelopes at the first tour of the tender. Offering the lowest bids, Limak Construction company was disqualified at the first tour and Fina Energy-Fina Porting OGG was disqualified in the second tour.

Remaining four companies, Calik Energy company, Mes company-Iskur company OGG, Fernas Construction company, and Iskaya Dogu OGG attended open bidding. The starting amount and raise gap were set as 225 million USD and 1 million USD respectively.

Fernas Construction company withdrew at the first tour of the open bidding while Mes company-Iskur company OGG withdrew at the 37th tour.

Finally, Calik Energy company withdrew at the 44th tour and Iskaya Dogu OGG became the company that offered the highest bid with 386 million USD.

Accepting the nice gesture offer of Kirsan, Iskaya Dogu OGG increased its offer to 387 million USD and the tender ended with that amount.

100 percent of the Dicle Electricity Distribution Company's shares belong to Turkey's electricity distribution company (TEDAS) and it provides service in Turkey's southeastern provinces Diyarbakir, Sanliurfa, Siirt, Mardin, Batman and Sirnak.

Friday, March 15, 2013