After numerous set-backs, Turkey’s Privatization Administration this month commercially closed the sale by auction of a 25-year concession covering nearly 2,000 km of toll roads and two suspension bridges over the Bosphorus Straits, Istanbul, raising US$5.72 billion. The financial close and transfer of the roads and bridges is expected to take place by mid-2013 following required approvals from the Privatization High Council and Council of State.
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