Indebted poultry firm quits share-sale talks

ISTANBUL - Hürriyet Daily News

Şeker Piliç, one of the leading poultry firms in Turkey, has withdrawn from share sale talks with Torunlar Gıda, according to a filing it made to the Istanbul Stock Exchange (İMKB) on Jan. 25.

The indebted company said the withdrawal was due to its levies.

Based in Bandırma, the southwestern town where many poultry firms are located, the company said a week earlier that it began talks with Torunlar.

Osman Bor, one of the owners of Şeker, told daily Hürriyet on Jan. 25 that talks were continuing. However, about an hour after the closure of the markets, the filing to the bourse was made.

Nearly 30 percent of shares in the poultry firm are free floating.

Torunlar, meanwhile, placed a $1.62 million offer Jan. 25 for Başkent Doğalgaz, Turkey’s second-biggest natural gas grid in Ankara, suggesting that authorities’ long quest to finally sell the grid might finally end in success.