Treasury Hands Over Shares in 11 Companies Including THY, Halk Bank to Wealth Fund

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According to the Cabinet decision, the Treasury handed over its holdings in THY, Borsa İstanbul, Ziraat Bank, Halk Bank, BOTAŞ, PTT, TÜRKSAT, Turkish Petroleum, ETİ Maden, Türk Telekom, and Çaykur to Turkey Wealth Fund.

Prime Ministry in its statement has announced that all the stakes held by the Treasury in Borsa İstanbul, Republic of Turkey Ziraat Bank AS, Turkish Petroleum, BOTAŞ Petroleum and Pipeline Corporation, PTT Postal and Telegraph Corporation, the owner of Turkey's stock exchange Borsa İstanbul, satellite communications provider TÜRKSAT were handed over to the fund.

In addition, the Treasury's 6.68% holding in phone operator Türk Telekom, its 51.1% stake in Türkiye Halk Bank and 49.1% stake in THY were also handed over to the fund.

Prime Ministry: Corporation policies will not change

Prime Ministry in its written statement has announced that the current managements, management policies and business plans of the corporations handed over to the wealth fund would further remain within the scope of the investment and growth strategies.

President Erdoğan's senior advisor Bulut in management board

According to the Trade Registry Gazette of Turkey, Yiğit Bulut, the senior advisor to President Recep Tayyip Erdoğan, Kerem Alkin, Himmet Karadağ and Oral Erdoğan were assigned to the management of the Turkey Wealth Fund A.Ş.

The respective assignments were reportedly approved by Prime Minister Binali Yıldırım. (HK/DG)