Turkey’s Limak Insaat AS and Calik Holding AS made the highest joint offer for the Kosovo Energy Corp.’s distribution and supply unit, Kosovo’s government said.
Limak, a builder and energy group, and Calik, a holding with interests in energy, media and telecommunications, offered 26.3 million euros ($28.4 million) for Kosovo Energy Distribution and Supply, part of the company known as KEK. They outbid Egypt’s El Sewedy Electric Co. (SWDY.CA), which offered 22.8 million euros ($28.43 million).
According to Bloomberg, the asset sale authorities will review details of the bids and make a final decision “in the coming days,” said Kosovar Minister for Economic Development Besim Beqaj. Kosovo hired the International Finance Corp., the World Bank’s private lending arm, as the sale adviser.