Consultants for Erdemir privatization are selected

Consultants for Erdemir privatization are selected

Turkey's privatization administration has selected a consortium of consultants to oversee the long-awaited privatization of its 46% stake in flats producer Erdemir. The consultant will be a consortium comprised of Vienna-based Raiffeisen Investment, and Turkish firms HC Istanbul Menkul Degerler and Tekinalp Avukatlar. The consortium is expected to release a report to the privatization administration before the end of the year recommending how to optimally sell the 46% stake in the steel producer. According to market sources, US Steel, Arcelor, LNM and Severstal are mentioned as possible bidders in the tender.