Turkey to hold Tekel auction
Published February 22nd, 2008
Four groups submitted bids for Tekel Sigara. Those are British American Tobacco (BAT) Turkish Limak Insaat with PI Turkey; a consortium of Dogan Holding-Citi Venture Capital International (CVCI) and Turkish cigarette wholesaler TUTSAB; and Strand Investment, a consortium made of private equity firm Cinven and a group of Turkish businessmen.
Earlier attempts to sell Tekel failed because tenders attracted bids deemed to be unsatisfactory, or no bids at all. The most recent plan to sell Tekel was postponed in April when officials said they aimed to boost market share before selling the firm.
