Ankara natural gas grid tender fails once again

Ankara natural gas grid tender fails once again

ISTANBUL - Hürriyet Daily News
The privatization of an 80 percent stake in Başkent Doğalgaz, Ankara’s natural gas grid, failed once again yesterday, when none of the bidders put out written bids.

Ahmet Aksu, vice president of Turkey’s Privatization Administration (ÖİB), said the tender will most likely be called off as there were no offers which surpassed the starting bid of $626 million from any of the competing firms.

The highest bid was $480 million in the first round. The second round of bids saw a high bid of $585 million with a tie among bidders in the lowest bids.

Three firms went along with the bidding process in the following round to break the tie. However, none of the three firms, continued with the tender in the end.

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