255 companies seized so far in Turkey’s post-coup attempt measures: TMSF

ISTANBUL

A total of 255 companies have been seized by the Saving Deposit Insurance Fund (TMSF) so far in the Turkish government’s post-coup attempt measures, TMSF President Şakir Ercan Gül has said.

“Some 255 companies have been seized so far,” said Gül in an interview on private broadcaster BloombergHT, Reuters reported. 

He said the TMSF is responsible for running seized companies in the most efficient way but stressed that the process “has not been easy.” 

Many companies have been appointed trustee panels or directly transferred to the TMSF over suspected links to the movement of U.S.-based Islamic scholar Fethullah Gülen, believed to be behind the failed coup attempt. 

“Everything will be done to protect the rights of people who have ties with these companies but are not involved in any crime, as well as the rule of law,” Gül said, stressing that these companies will be under the TMSF’s management until existing probes are finalized. 

“Some of these companies will continue their operations or transferred to third parties without being liquefied. So other companies that do business with them have no reason to fear,” he added. 

A tender process will start following the completion of inventory works in the seized companies, the TMSF head stated. 

“This process may be on a partial privatization method. We will draw up a timetable for tenders according to the judicial processes of these companies. There are some companies that are directly linked to the Gülen movement, so perhaps we will sell them first,” Gül added.