Turkey holds auctions for 2 sugar factories

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– Privatization authority set to auction 14 sugar factories

The Privatization Administration of Turkey conducted separate auctions to corporatize two sugar factories.

Yozgat and Corum, the two factories of Turkish Sugar Refineries Corporation (Turkseker), were up for auction.

Safi Holding offered the highest bid — 528 million Turkish liras ($130.3 million) — for the Corum Sugar Factory, while its tender started from 441 million Turkish liras ($108.83 million).

The auction for Yozgat Sugar Factory started from 244 million Turkish liras ($60.2 million) and it received bids up to 275 million Turkish liras ($67.9 million) from Dogus Food Beverage.

The auctions took place within the scope of privatization in 2000.

Fourteen factories — Afyon, Erzurum, Alpullu, Ilgin, Bor, Kastamonu, Burdur, Kirsehir, Corum, Mus, Elbistan, Turhal, Erzincan and Yozgat — would be auctioned.

Last week, auctions for Bor and Kirsehir sugar factories were held and they were sold for 336 million Turkish liras ($82.92 million) and 330 million Turkish liras ($81.44 million), respectively.

* Gokhan Ergocun contributed to this story from Ankara

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