49.93% of Erdemir up for sale
The Turkish Privatization Administration announced that it would put its 46.12% stake in
Turkey's largest flat steel producer, Eregli Demir Celik Fabrikaları (
Erdemir), up for block sale as part of the effort to privatize
Erdemir.
Furthermore, a 3.81% stake owned by the Development Bank of
Turkey will also be put up for sale, according to an agreement between the administration and the bank.
Erdemir turned a profit of $631 million from 5.77 million tons of
production in 2004.
Arcelor, Mittal Steel,
US Steel, Corus and
Severstal are among the interested parties in
Erdemir's privatization.