August 2 (SeeNews) - Turkey's energy market regulator, EPDK, has taken control of Osmangazi power grid operators Osmangazi Electrik Dagitim and Osmangazi ELektrik Perakende Satis, Akbank [BIST:AKBNK] said on Friday.
Akbank, which provided financing to local company Yildizlar Holding to acquire the network from state-owned company TEIAS, said there has not been any delay in the repayment of the debt and the structure of the loan is stable. The move will not have a negative impact on the bank, it said in a bourse filing.
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EPDK has replaced the chairmen and boards of Osmangazi Electrik Dagitim and Osmangazi ELektrik Perakende Satis, saying the companies are failing to fulfill their duties, local news agency Anadolu Ajansi reported on Friday, citing a statement from the regulator.
The Osmangazi power grid was acquired by Yildizlar Holding for $485 million (366 million euro) in 2010, according to local daily Hurriyet.
($ = 0.754 euro)