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TURKEY: ‘879 coys worth $11.2m seized since coup attempt’

More than 879 companies worth $11.2million have been seized by Turkish government since the last June failed coup attempt, data from the state-run Savings Deposit…

More than 879 companies worth $11.2million have been seized by Turkish government since the last June failed coup attempt, data from the state-run Savings Deposit Insurance Fund (TMSF) revealed.

These companies are either transferred to TMSF or trustees appointed to their management by the government.

TMSF’s quarterly activity report for the January-March period, which was released last week, showed that the 879 seized companies were from 43 of Turkey’s provinces.

The total equity capital of the seized companies is $5.5million, while their combined turnover is $6million, according to the TMSF report.

The TMSF report also revealed that a determination of value of 70 out of the 147 media organizations that were closed down by the government in the aftermath of the coup attempt has been completed.

 

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