Tatneft says Tupras bid complies with laws
Visiting Ankara upon an invitation from Turkish Finance Minister Kemal Unakitan, Minnihanov met Unakitan in his office. Tatneft General Manager Shafagat Takhautdin, Privatization Administration Chairman Metin Kilci, Tupras General Manager Husamettin Danis and Zorlu Chairman Ahmet Nazig Zorlu also participated in the meetings.
The government this month approved the sale of a 65.76 percent stake in TUPRAS to a Turkish-German partnership, Turkish electronics and textiles concern Zorlu Holding and German chemicals distributor Efremov-Kautschuk GmbH.
German-based Efremov Kautschuk GmbH represents the interests of Tatneft, Russia’s sixth largest oil firm. The consortium bid USD 1.3 billion to buy TUPRAS. The sale contract is expected to be signed by April 18, at the latest.
Tatneft and Zorlu will each hold a 50 percent stake in the new company to be established to buy Tupras.
Minnihanov and the accompanying delegation were scheduled to meet Prime Minister Recep Tayyip Erdogan later in the evening and depart from Turkey on the same day.
