The period was extended when the balance sheet auditing which will ensure Privatization Administration Presidency (OIB) to receive more money, was not completed and 125 million dollars of the company to make the payment of 1.3 million dollars in advance, remained missing.
Privatization Board OIB announced yesterday that the period given for the signature of the contract lapsed and that it decided to extend the period for 40 days.
According to Hurriyet, the deficiencies of both parties played a role in the extension. Tatneft-Zorlu informed OIB that a part of its loan negotiations were not over and they had 125 million dollars missing. The group did not explain to OIB that with which bank the loan negotiations were not completed. OIB's deficiency resulted from the failure to finish the independent audit of balance sheets.