"Turkish Asset-Sales Agency Cancels Sale of Ankara Gas Grid
By Ali Berat Meric and Steve Bryant - May 10, 2011 7:16 AM ET
Turkey’s asset-sales agency canceled the sale of an 80 percent stake in Ankara’s gas distribution network after the winning bidder failed to pay the $1.21 billion it had promised.
The agency plans to try again to sell Baskent Dogalgaz Dagitim AS by September or October after Mmeka Makine Ithalat Pazarlama & Ticaret AS, owned by Mehmet Emin Karamehmet and Mehmet Kazanci, failed to meet the payment deadline late yesterday, Ahmet Aksu, acting head of the agency, said today in a telephone interview. Mmeka had been unable to get financing for the purchase, Finance Minister Mehmet Simsek said in televised comments after the cancellation."
More:Turkish Asset-Sales Agency Cancels Sale of Ankara Gas Grid - Bloomberg
