Istanbul May Get $1 Billion for Ferry Firm IDO, Milliyet Says
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Istanbul municipality may raise as much as $1 billion in today’s auction to sell its ferry company Istanbul Deniz Otobusleri AS, known as IDO, Milliyet reported, citing unidentified analysts.
Five investors who bid for IDO by the March 31 deadline were a consortium between Akfen Holding AS, Souter Investments LLP, Tepe Insaat Sanayi AS and Sera Gayrimenkul Yatirim & Isletme AS, Global Liman Isletmeleri AS, a joint venture between units of Koc Holding AS and Sweden’s Stena AB, Torunlar Gida Sanayi & Ticaret AS and Yildirim Holding AS.