Kazanci to sell stake in Aksa

Turkey’s Kazanci Holding has appointed Merrill Lynch to sell a 16.3 per cent stake in its power producer Aksa Enerji to international investors, according to a statement yesterday. A roadshow for the sale will run from 20 May to 24 May. Aksa added that the sale will be to corporate investors and that no public offering was planned. Kazanci owns 81.5 per cent of Aksa, while Goldman Sachs International controls 13.3 per cent. Five per cent of the company is traded on the Istanbul Stock Exchange.