Turkish Council of State has unanimously overruled a labor union that asked for cancellation of the sale of Turkey's Petrochemical Holding Co. (Petkim) by block sale. Turkey held an auction on July 5th, 2007 to privatize 51% stake in Petkim. TransCentralAsia Petrochemical Holding consortium submitted the highest offer with US$2050 million in the auction. Socar-Turcas-Injaz consortium made the second highest offer of US$2040 million.
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Tuesday, March 04, 2008
Council Of State rejects annulment of sale of Turkey's Petkim
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