Financial Times FT.com

Zorlu Enerji to increase capital by 245%

By Delphine Strauss in Ankara

Published: June 25 2009 02:43 | Last updated: June 25 2009 02:43

Turkish power producer Zorlu Enerji appears to be positioning itself to attract an international partner with a restructuring to streamline its activities and reduce debt.

The group said on Wednesday it would increase its capital by 245 per cent with a TL200m ($128.5m) rights issue, and sell stakes in several units to its parent, the family conglomerate Zorlu Holding, and other Zorlu subsidiaries for a total TL86.3m.

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