• Turkey’s Privatization Agenda: Not Much Progress, but Promising
  • October 19, 2011 | Authors: Iris Erbil; Ilke Türeyen
  • Law Firm: Kolcuoglu Demirkan Attorneys at Law - Istanbul Office
  • As mentioned in our bulletin of March 2011, ¿Turkey¿s 2011 Privatization Plans¿, the Turkish Government had set a budgetary target of USD 9.5 billion for its privatization proceeds for the year 2011. Although there is some progress achieved so far, there are some important privatizations originally planned for 2011 but which have not yet even started. Although the Privatization Administration (the ¿PA¿) announced that it envisages completing the privatization of the National Lottery by the end of 2011, the tender date has not yet been announced. Likewise, the shares of Turkish Airlines and Halkbank were expected to be privatized in 2011, but their privatization models have still not been determined. This article is a follow-up on our March e-bulletin, aiming to provide our readers an overview of the past six months in Turkey¿s privatization agenda, as well as a summary of what is expected in the final quarter of 2011.