Turkish Wealth Fund can buy companies in crisis – Hürriyet.de

4/17/2020 8:18 PM

Thanks to a new law, the Turkish Wealth Fund (TWF) can now buy companies or become partners if they get into economic difficulties due to the corona crisis.

On April 16, the Turkish parliament passed the AKP law. This is intended to cushion the economic consequences of the corona pandemic.

Help in the crisis

This would override certain provisions of the Capital Markets Act for the TWF. This is to make his work in the crisis easier.

The Turkey Wealth Fund, founded in 2016, has interests in several Turkish companies, including the airline Turkish Airlines, the telecommunications group Türk Telekom, the state lenders Ziraat Bankasi and Halkbank, as well as the oil company Turkish Petroleum and the stock exchange Borsa Instanbul.

(an / dpa)

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