LIMAK WITHDRAWS FROM ELECTRICITY DISTRIBUTION

The Limak Group of Companies has sold its electricity distribution subsidiary Ulug Enerji, which holds shares in Uludag Elektrik Dagitim AS and Uludag Perakende Elektrik AS, to the UK-based investment company Actis, generally known for infrastructure investments. Thus, Limak Group has fully withdrawn from the electricity distribution business in the country. The company has operated in the country’s electricity distribution sector since 2013. “The amount to be obtained from the transaction will be used to make new investments in our domestic operations,” said Ebru Ozdemir, Chairwoman of the Board of Directors of Limak Yatirim. Ulug Enerji is the owner of Uludag Elektrik Dagitim AS, which offers electricity distribution services in Bursa, Balikesir, Canakkale, and Yalova, and the supply companies operating in the region. However, Limak Group of Companies’ electricity distribution operation, which is carried out with Calik Group, continues in Kosovo.