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The privatization concept, which came onto the agenda in Turkey after 1980 but encountered legal obstacles, gained momentum after 2001 and the Many institutions were privatized. Although some
The privatization concept, which came onto the agenda in Turkey after 1980 but encountered legal obstacles, gained momentum after 2001 and the Many institutions were privatized. Although some of them were sold during this period, some were also sold, a special budgetary institution affiliated with the Ministry of Finance and Finance of the Republic of Turkey. An administrative directorate for privatization was established. (1994)
Because we hear and research about privatized state assets from time to time, we are essentially expected to be familiar with the subject. That is why we are transferring the talk about what privatization is or what it should actually be to another context, and that has been happening in our country since the 1980s. privatized state assets let’s see.
Founded by Ataturk in 1933 Sumerbankwas an organization that produced commercial goods. Sümerbank, which is both a textile industry and a bank, public savings It is made with . The organization is the Turkish producer and exporter of raw cotton; It also included cement plants, iron and steel facilities, paper and cellulose facilities.
A 1987 decision decided to privatize Sümerbank. The Sümerbank group of companies was founded in 1988. On October 24, 1995 To Garipoğlu Group of Companies for US$103.4 million sold. The company lost Sümerbank after its name was involved in the murder and the Türkbank scandal. in 1999 Do not transfer it to TMSF then in 2001 It was sold to Oyak Group.
Tekel, founded in 1862 It was the only recognized institution in our country in the field of tobacco and alcohol. By allowing the private sector to produce tobacco in 1983 and approving the import of foreign cigarettes in 1984, Tekel lost its importance.
As foreign companies began producing cigarettes, Turkish tobacco was put on the back burner, and with the 2001 privatization decision, company factories began to close. Alcohol Department in 2003, To Nurol-Özaltın-TÜTSAB Joint Venture Group for US$292 million sold. The tobacco department was also established in 2008. 1 billion 720 million dollars to British American Tobacco sold. Thus ended the era of Monopoly.
Highways and bridges were also privatized. With the tender in 2012, including the Bosphorus and Fatih Sultan Mehmet Bridges. Privatization of 8 highways happened. The Koç-UEM-Ülker partnership, which submitted the highest bid in the tender at 5 billion 720 million, received the operating rights of bridges and highways for 25 years.
Privatization transferred ownership of highways and bridges to the private sector, giving them the right to operate them for 25 years. Moreover Koç-UEM-Ülker partnership During this period he also took responsibility for the maintenance and repair of highways and bridges. This tender was also the second most expensive privatization tender in the context of privatization. The first is in a subheading.
Türk Telekom, which was established in 1995 as a result of the separation of the telecommunications and postal services from the PTT, was included in the scope of privatization in 2005 and its 55% share was To the Lebanese OTAŞ for 6.55 billion dollars sold.
Following this sale, which was one of Turkey’s largest privatizations, OTAŞ was contracted by a consortium including Turkish banks to pay for the shares in 2013. $4.75 billion loan taken.
OTAŞ was unable to pay the $290 million it was supposed to pay in 2016 and the next two payments. After these problems, OTAŞ shares began trading in 2018, including creditor banks. It was transferred to the company LYY Telekom. In 2022, LYY’s shares were transferred to the Turkey Wealth Fund with the consent of BTK. The following statement was made before the transfer:
“As a result of the negotiations with LYY, the purchase price for the shares subject to the transaction was set at USD 1 billion 650 million. In addition, the portion corresponding to LYY’s 55 percent share of the dividend amount to be paid by the General Meeting of Türk Telekom, based on the independently audited consolidated financial statements 2021, will be paid to LYY.”
SEKA (Turkey Cellulose and Paper Factories Inc.), founded in 1936, started operations in Izmit and carried out production in various parts of the country such as Balıkesir, Afyon and Dalaman. The raw material of paper is newsprint, cleaning and packaging paper, including cellulose. It has produced in many areas.
In 2003 SEKA, Albayrak Tourism Travel Construction Tic. to As was allowed, but two months later the implementation of the privatization was stopped. It was expected that Albayrak would return SEKA, but that did not happen. At the end of the process, which involved many lawsuits, Albayraklar paid 794 thousand 318 dollars in 2012 with default interest. In this process, the promise to operate the factory for 5 years was not fulfilled and in 2010 The machines in the factory were sold. The factory land was sold in 2013.
Turkish sugar factories, It was privatized in 2000. In this context:
In addition, a thousand assets of Ankara Sugar Factory 660 decares of agricultural land, Belongs to the Malatya Sugar Factory 198 decares of land, It belongs to the Sivas sugar factory, the construction of which was abandoned. 589 decares of land was also included in the privatization program.
With the decision to be made in 2021, Turkish sugar factories will be removed from the scope of privatization It was transferred to the Türkiye Wealth Fund.
Established in 1953, the Meat and Fish Institute was established for the development of livestock farming and fisheries. Turkey’s largest meat institute The Meat and Fish Institution, which became the Meat and Fish Institution, was privatized in 1993.
After the privatization decision, Bursa, Afyon, Manisa, Samsun and Malatya were built between 1995 and 2004. Twenty companies have been sold. In the same years, 5 companies were created, including Yüksekova and Konya free transferred to official institutions. These institutions were left to the institutions of the region, such as the Municipality of Konya Meram and the General Command of the Yüksekova Gendarmerie. Three workshops were closed between 1999 and 2003.
The meat and fish institution was excluded from the privatization activities in 2005 and some companies were transferred back to the institution. In 2013 the name of the institution changed to Directorate General of the Meat and Milk Institution happened.
Halkbank’s issued shares will be sold via private placement in 2022. It was sold to the Turkish Wealth Fund. TVF’s ownership percentage in Halkbank rose to 87.70. Vakıfbank, on the other hand, issued new shares and sold the entirety to TVF via private placement, again without offering them to the public. TVF’s share in Vakıfbank amounted to 64.84%. 20.57% of the shares are To the Ministry of Finance and Finance of the Republic of Turkey belong
In addition to the institutions we have described, dozens of state institutions have been privatized since 2002. Some of these were sold and did not return to the state, while others were sold but later transferred to the Turkey Wealth Fund. Ministry of Finance and Finance of the Republic of Turkey You will see other public companies in the report prepared in 2022.
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Source: Web Tekno
Alice Smith is a seasoned journalist and writer for Div Bracket. She has a keen sense of what’s important and is always on top of the latest trends. Alice provides in-depth coverage of the most talked-about news stories, delivering insightful and thought-provoking articles that keep her readers informed and engaged.
