January 29, 2013

Turkey's Seker Pilic quits share-sale talks

One of the leading poultry firms in Turkey, Seker Pilic, has withdrawn from share sale talks with Torunlar Gıda.

This is according to a filing it made to the Istanbul Stock Exchange (Ä°MKB) on January 25.

The indebted company said the withdrawal was due to its levies.

Based in Bandırma, the south-western town where many poultry firms are located, the company said a week earlier that it began talks with Torunlar.

Osman Bor, one of the owners of Åžeker, said on January 25 that talks were continuing. However, about an hour after the closure of the markets, the filing to the bourse was made. Nearly 30% of shares in the poultry firm are free floating.

Torunlar, meanwhile, placed a US$1.62 million offer on January 25 for BaÅŸkent DoÄŸalgaz, Turkey's second-biggest natural gas grid in Ankara, suggesting that authorities' long quest to finally sell the grid might finally end in success.