Garanti Securities and Nomura appointed as advisors for Ankara Natural Gas Privatization

Being the second largest natural gas distribution company in Turkey, Baskent Natural Gas is distributing 3 billion cubic meter of natural gas annually and has 1 million customers with a distribution network of 8.000 kilometers. The company has the distribution license until August 31, 2037.

Baskent Natural Gas Distribution Company was established in 2007, to carry out natural gas distribution activities within Ankara Municipality, which was assigned to privatize the Company within two years or handover the Company to the Privatization Administration, if the privatization cannot be successfully concluded within this time frame. The privatization process has been initiated by Ankara Municipality in 2007 where 40 investors declared interest. However, the privatization could not be finalized. Later, Baskent Natural Gas was included in the privatization program by the Privatization Administration, in July, 2009.

Garanti Securities and Nomura consortium has won the tender for the advisory services announced on July 21, 2009. The advisory agreement was signed on September 11, 2009. McKinsey and Cosar Law Firm our advisors to the Garanti Securities – Nomura Consortium.