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HONG KONG's port operator Hutchison Whampoa, together with Turkey-based Global Investment Holding, have paid US$1.27 billion to operate Turkey's second largest port for 49 years.
The Port of Izmir on Turkey's west coast is the third most populous city of Turkey and the capital of Izmir province.
Rival bidders were Singapore's PSA, Australia's Babcock and Brown and Turkish port operator Alsancak as well as Baticim Bati, an Egyptian cement company.
Hasan Koktas, vice president of the Turkey's privatisation administration, said the winning consortium, which included Turkish port operator Ege Ihracatci Birlikleri, beat three foreign and local bidders.
The three-way venture beat out unlisted Turkish firm Celebi Holding, which services airports in Turkey and won the May 3 auction in the Turkish capital of Ankara.
The price is more than the US$775 million paid last year for Turkey's southeast Mediterranean port of Mersin near Syria. Such privatisations are viewed as a boost to Turkey, which is anxious to reduce its large current account deficit. |
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