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Petrochems: Transparency Suspect in Turkey’s Latest Petrol Privatising
16 July 2007
Turkey
ICEM InBrief
Turkey’s only petrochemicals company, Petkim Petrokimya, was auctioned off 5 July by the state’s Privatisation Authority in a €1.5 billion transaction that fails simple transparency criteria. The government has failed to provide clear backgrounds on some of the partners comprising the winning bid for a 51% stake in this important Turkish enterprise. That bid was won by a newly-chartered...
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