August 9, 2019 / 3:12 PM / 4 months ago

Turkish wealth fund says Sisal-Sans JV offers best bid in national lottery tender

ISTANBUL, Aug 9 (Reuters) - Turkey’s sovereign wealth fund (TVF) has completed the bidding process for the Milli Piyango national lottery, the fund said on Friday, adding that the Turkish-Italian Sisal-Sans joint venture had presented the best bid.

In a statement, the TVF said Sisal-Sans had offered a bid of 9.32 billion lira ($1.69 billion) for the 2020 operating rights of the national lottery.

The TVF, worth $50 billion, was set up by the government in 2016 to develop and increase the value of Turkey’s strategic assets and provide resources for investment. President Tayyip Erdogan appointed himself chairman of the fund last September.

$1 = 5.5027 liras Reporting by Ezgi Erkoyun; Writing by Tuvan Gumrukcu; Editing by Ece Toksabay

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