Garanti-Nomura advise on Turkish gas privatisation

Published: September 30, 2009

Garanti Securities and Nomura have been selected as advisers to the Privatisation Administration of Turkey for the privatisation of Ankara Natural Gas Distribution.
Baskent Natural Gas, Turkey’s second largest natural gas distribution company, has the distribution license until August 2037. It distributes 3 billion cubic meters of natural gas annually and has 1 million customers with a distribution network of 8,000 kilometres.
The company was established in 2007 to carry out natural gas distribution activities within the Ankara municipality, which was assigned to privatise the company within two years or hand over the company to the Privatisation Administration if the privatisation could be successfully concluded within this time frame.

The privatisation process started in 2007 when 40 investors declared interest. However, the privatisation could not be finalised. In July 2009, Baskent Natural Gas was included in the privatisation programme by the Privatisation Administration.
The Garanti Securities and Nomura consortium has won the tender for the advisory services announced in July 2009. The advisory agreement was signed in September 2009. McKinsey and Cosar Law Firm are advisers to Garanti and Nomura.