Turkish Airlines, Ziraat Bank, Stock Exchange Istanbul Transferred to Turkish Asset Fund

The shares owned by the Prime Ministry Customs Administration in Turkish Airlines (THY) and Halkbank will be removed from the privatization scope and program and transferred to the Turkish Asset Fund.

The Prime Ministry’s Privatization Administration has 49.12 percent of THY with paid-up capital of 1.38 billion TL; Halkbank, which has a paid-up capital of 1.25 billion liras, is a 51.11 percent shareholder.It was stated that the Turkish Cypriot Administration, which is included in the privatization scope and program of the Privatization High Council, was removed from the privatization scope and program of the 49.12 percent of Halkbank and the privatization scope and program of Halkbank. The Prime Minister announced at the weekend that some Treasury-owned companies and some of the companies in the privatization program have decided to transfer to the Turkish Asset Fund (TVF). All of the shares belonging to Ziraat Bank, BOTAŞ, Turkish Petroleum AO, PTT, Stock Exchange Istanbul and Türksat, owned by the Treasury, belonged to Türk Telekom with 6.68 percent of the Treasury’s share of the Official Gazette, It was stated that Çaykur was decided to transfer to TVF.

The structure of the Being Fund, created a while ago, is being strengthened. The National Lottery, the games of chance and the horse races were transferred to the  Fund.  Organizations such as Ziraat Bank and Stock Exchange Istanbul were transferred to the Asset Fund. In addition, the Defense Industry 3 billion pounds of resources for 3 months opened to the use of the Fund. In the statement made by the Prime Ministry, it is stated that the existing management and business plans of the companies will continue in accordance with the investment and growth strategies.
With the same decision, 6.68 percent of Türk Telekom‘s share will be transferred to the Asset Fund. Apart from these, the General Directorate of Eti Mine Operations and the General Directorate of Tea Operations were among the organizations that were transferred to the Asset Fund.

Forty-six assets were transferred to the Asset Fund. The allocations of 46 immovables owned by the Treasury will be removed. While being transferred to the Asset Fund, it will continue to be managed by the Ministry of Finance until the completion of the transfer and registration of the corresponding immovables. Of the 46 immovables handed over, 26 are in Antalya. The immovable properties are located in touristic districts such as Camyuva, Kemer, Kiriş and Manavgat. In addition, immovable properties such as Aydın Kuşadası, İzmir Özdere, Selçuk, Muğla Bodrum, Istanbul Bakırköy were transferred to the Asset Fund.

The Prime Minister was authorized to eliminate any hesitations that may arise regarding the organizations transferred to the Asset Fund and to determine the principles of implementation when necessary. The written statement from the Prime Ministry said that the existing management and business policies of the companies transferred to the Asset Fund will continue in accordance with investment and growth strategies and that the cooperation provided with the relevant stakeholders including international financial institutions will be maintained. In the statement, it was noted that the companies would be managed within the framework of the Strategic Investment Plan to be approved by the Council of Ministers.

 

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