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Turkey's Bereket Is Said to Begin Sales to Pay $4 Billion Debt

  • Bereket Enerji puts two power plants on sale, seeking $400m
  • Turkey energy firms are seeking to renegotiate foreign debts
Electricity pylons stand  near the minaret of a mosque on the outskirts of Istanbul.

Electricity pylons stand  near the minaret of a mosque on the outskirts of Istanbul.

Photographer: Kerim Okten

Turkey’s Bereket Enerji group has put power plants on sale as part of plans to refinance and pay down its debts, joining other Turkish power companies that are renegotiating their foreign-currency loans with lenders, seven people with knowledge of the plan said.

Bereket, based in Turkey’s western Denizli province, hired Istanbul-based Yapi Kredi Yatirim Degerler AS to sell its cascaded Goktas I and Goktas II hydroelectric power plants, which have a combined 275 megawatts of capacity on the Seyhan river in Turkey’s south, said the people, who asked not to be named because the deal isn’t public. There are several local suitors for the plants, the people said. Bereket is seeking to earn at least $400 million from the sales, said two of the people.