Doğan Holding back in oil sector


Doğan Energy Investments, an affiliate of Doğan Holding, has purchased 50 percent of Aytemiz Petrol for TL 152 million ($62.346 million). That brings up the question of why Doğan Holding is back in the sector, from which they pulled out, alleging government pressure. According to a statement submitted to the Public Disclosure Platform (KAP) by Doğan Holding, Aytemiz Fuel Oil Distribution will own 100 percent of the shares of Aytemiz Gas and Aksu Natural Gas by the latest share certificate purchase date. According to Aytemiz Fuel Oil Distribution's consolidated finance tables dated Dec. 31, 2013, issued in accordance with Turkish Accounting Standards and Turkish Reporting Standards, its assets are equate to TL 566 million, with the company's revenue at TL 2 billion. The company has 310 vendors, 11 supply points and four storage facilities.