June 5 (SeeNews) - Turkey's Atac Insaat ve Sanayi [BIST:ATAC] said it has started negotiations with local furniture group Boydak Group to sell its stake in their equally-owned hydropower producing joint venture Nisan Enerji.
Boydak wants to use its preemptive rights to buy the stake, Atac Insaat said in a statement on Borsa Istanbul on Tuesday.
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Boydak acquired a 50% stake in Nisan Enerji from Atac Insaat in 2010.
Nisan Enerji has 73.75 megawatts (MW) of installed hydropower capacity and 70.2 MW of hydropower stations under construction, according to information on its website.
Atac Insaat ve Sanayi is active in the construction, energy, textile, tourism and agriculture industries.