Goldman to Buy $450 Million Aksa Stake; Shares Have Record Gain

Goldman Sachs Group Inc. agreed to buy 26.5 percent of Aksa Enerji Uretim AS, one of Turkey’s two biggest power producers, for about $450 million, driving a record gain in the utility’s shares.

Goldman Sachs will pay 5.05 liras ($2.94) a share to Aksa’s parent company, Kazanci Holding AS, which will invest the proceeds in power generation, Aksa Chairman Cemil Kazanci said today by telephone. “The price isn’t certain and could change at the closing of the transaction,” he said.