Newsletters
Türkiye’s deposit insurance and asset management authority, the Savings Deposit Insurance Fund (TMSF), will organize a series of auctions in September to sell companies and assets currently managed under state trusteeship, with a combined valuation of ₺51.57 billion ($1.25 billion).
The auctions will begin on Sept. 3 and conclude on Sept. 30, with specific dates for each company listed on TMSF’s website.
The auctions will include major Turkish companies under state trusteeship.
Aydinli Clothing Group, one of Türkiye’s largest apparel retailers that sells international brands such as Pierre Cardin, Cacharel, and U.S. Polo Assn., will be offered for sale on Sept. 23 with a base valuation of ₺20.35 billion ($496 million).
Hes Kablo, a leading producer in Türkiye’s electrical and cable industry, is scheduled for auction on Sept. 9 with a base valuation of ₺18.6 billion ($454 million).
Known for supplying both domestic clients and export markets, the company is regarded as one of the country’s top manufacturers in its field.
Later in the month, on Sept. 30, attention will turn to the household furniture sector when Istikbal, one of Türkiye’s most recognizable home brands, goes under the hammer.
With a starting price of ₺12.5 billion ($305 million), the company brings a wide customer base and a long-established presence in the domestic market.
Smaller trustee-managed businesses will also be auctioned, such as Ozcay Textile, which is listed for Sept. 3 with a base price of ₺37.3 million ($0.9 million).
Television broadcaster Flash Haber TV, seized under trusteeship following an illegal betting probe in March, will be auctioned on Sept. 17 with a valuation of ₺84 million ($2 million).
The sales portfolio also comprises assets seized under trustee management, including luxury cars, a custom-built yacht, a broadcast van, and real estate in several Turkish cities.
The auctions for these items are scheduled between Sept. 3 and Sept. 12.
TMSF functions not only as the insurer of deposit accounts in Türkiye but also as the trustee for companies transferred to state management in line with judicial and regulatory procedures.
The fund temporarily oversees such companies until they are restructured or sold, and revenue from their sale is directed toward settling debts and employee claims.
TMSF emphasized that revenues from these auctions will first be used to cover public debts and outstanding employee wages before any other obligations.
According to the latest data on its website, the fund currently manages 848 companies under trusteeship.
1 min read
2 min read
