New sale decision from TMSF

The Savings Deposit Insurance Fund (TMSF) has put 100 percent of the shares of Boyteks Tekstil AŞ, which operates under Erciyes Anadolu Holding, up for sale. According to the announcement published in the Official Gazette, a total of 150 million shares belonging to the company, which is under Treasury ownership and each with a nominal value of 1 TL, will be transferred via tender.

The total price envisioned for the sale transaction has been announced as 14.3 billion lira. Investors interested in the tender will be able to submit their bids until March 30. As a condition for participation, the temporary guarantee amount has been set at 700 million lira.

The tender process will first utilize a closed-bid method, followed by an open auction. While it is required that sale payments be made in Turkish lira and in cash, it was stated that requests from those wishing to make payments in installments or in foreign currency will be evaluated during the contract stage. The party that wins the sale will become the new owner of all of Boyteks Tekstil. As the final stage of the process, the tender will be held on March 31.

News Source: 12punto