Eti Gumus Submits $485 Million Bid For Osmangazi Grid - IHA

ISTANBUL -(Dow Jones)- Turkish silver mining company Eti Gumus has submitted the highest bid of $485 million in a tender to sell 100% of electricity distribution grid company Osmangazi Elektrik Dagitim AS, the Ihlas News Agency, or IHA, reports. The deal will be finalized following approvals from the Turkish competition authority, energy watchdog EPDK and Supreme Board of Privatization, OYK. In the televised auction, Eti Gumus outbid another Turkish firm, Aksa Elektrik Perakende Satis AS. Turkey's privatization agency OIB is holding a final tender Friday for the privatization of three electricity distribution grids in the country. OIB previously said 12 bids have been received for Osmangazi Elektrik Dagitim AS, which operates in five western cities. It will also hold tenders Friday for Coruh Elektrik Dagitim AS and Yesilirmak Elektrik Dagitim AS. OIB previously said five bids have been received for Coruh Elektrik Dagitim AS and 12 bids for Yesilirmak Elektrik Dagitim AS. Coruh Elektrik Dagitim is operational in five cities in the northeast of Turkey and Yesilirmak Elektrik Dagitim provides a service along the Black Sea coast. Agency Web sites: www.iha.com.tr; www.ihavideo.net