British American Tobacco is interested in purchasing of Turkish public company Tekel Cigarette. Estimated value of the company in accordance with Analytics is $ 1-1,5 billion.
This is the third time when the Turkish government is trying to sell Tekel Cigarette Company. Regarding this, it will probably be sold soon. Previous attempts to sell the Turkish manufacturer of tobacco failed because it was not enough bids at the auction. Companies do not offer the Turkish government the necessary price.
Along with the British American Tobacco are three groups of companies - a consortium led by Turkish conglomerate Dogan Holding - granted the applications for purchase. Another syndicate which includes a Turkish construction company Lima Insaat, and the consortium, which includes Civen company specializing in the acquisition of a controlling stake.
Today, Philip Morris, the company occupies a leading position in the Turkish cigarette market. Tekel whose share has steadily declined recently, 29%. BAT controls almost 7% of the Turkish market.
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