Turkey’s Calik, Limak Place Highest Joint Bid for Kosovo’s KEK

Turkey’s Limak Insaat AS and Calik Holding AS made the highest joint offer for the Kosovo Energy Corp.’s distribution and supply unit, Kosovo’s government said.

Limak, a builder and energy group, and Calik, a holding with interests in energy, media and telecommunications, offered 26.3 million euros ($28.4 million) for Kosovo Energy Distribution and Supply, part of the company known as KEK. They outbid El Sewedy Electric Co. of Egypt, which offered 22.8 million euros.

The asset sale authorities will review details of the bids and make a final decision “in the coming days,” said Kosovar Minister for Economic Development Besim Beqaj. Kosovo hired the International Finance Corp., the World Bank’s private lending arm, as the sale adviser.

To contact the reporters on this story: Misha Savic in Belgrade at msavic2@bloomberg.net; Bekim Greicevci in Pristina at bgreicevci@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net