Aygaz Falls After Turkish Agency to Cancel Ankara Grid Sale

Aygaz AS (AYGAZ), a Turkish liquefied gas company, dropped in Istanbul after the country’s asset sales agency said it will cancel the sale of Ankara’s gas grid company for which Aygaz was among the bidders.

The shares fell 1 percent, the most in almost a week, to 8.20 liras at the close in Istanbul.

Turkey’s asset sales agency said it will cancel the sale of an 80 percent stake in Baskent Dogalgaz Dagitim AS, known as Baskentgaz, after bidders including Aygaz didn’t meet a government price demand of $626 million, Ahmet Aksu, acting chairman of the agency and head of the auction committee, said in Ankara today.

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Selcuk Gokoluk at sgokoluk@bloomberg.net

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