Türkiye Wealth Fund expands: 12 companies transferred from treasury

Türkiye's Official Gazette published a presidential decree signed by President Recep Tayyip Erdogan on Aug. 20, 2024. The decree mandates the transfer of all Treasury-held shares of 12 companies to the Türkiye Wealth Fund. Among these companies is Koza Altin Isletmeleri Anonim Sirketi, a major player in the country's gold mining industry.

Which companies transferred to wealth fund

The decision, documented in issue 32,638 of the Official Gazette, marks a significant shift in the management of these companies, placing them under the strategic oversight of the Türkiye Wealth Fund.

The companies are listed as:

1. Koza-Ipek Holding Anonim Sirketi
2. Ipek Dogal Enerji Kaynaklari Arastirma ve Uretim Anonim Sirketi
3. Koza Anadolu Metal Madencilik Isletmeleri Anonim Sirketi
4. ATP Insaat ve Ticaret Anonim Sirketi
5. ATP Havacilik Ticaret Anonim Sirketi
6. ATP Koza Turizm Seyahat ve Ticaret Anonim Sirketi
7. REK-TUR Reklam Pazarlama ve Ticaret Limited Sirketi
8. Koza Produksiyon ve Ticaret Anonim Sirketi
9. Ipek Online Bilisim Hizmetleri Limited Sirketi
10. Koza Altin Isletmeleri Anonim Sirketi
11. Ozdemir Antimuan Madenleri Anonim Sirketi
12. Koza Ipek Tedarik Danismanlik ve Arac Kiralama Ticaret Anonim Sirketi

What does this transference mean?

The Türkiye Wealth Fund was established to manage and grow the nation's strategic assets, playing a crucial role in driving economic development and stability. By transferring these shares, the government aims to centralize economic management, enhance the efficiency of these companies, and ensure their alignment with national interests. This move reflects the government's broader strategy of consolidating control over key sectors to strengthen the country's economic power.

August 20, 2024 09:20 AM GMT+03:00