932 companies under Turkish gov’t control after post-coup seizures

932 companies under Turkish gov’t control after post-coup seizures

Turkey’s state-run Savings Deposit Insurance Fund (TMSF) Chairman Muhiddin Gülal said Monday 932 companies that were earlier confiscated over Gulen links are now under TMSF’s control.

 

Gulal said the companies are valued at TL 21.2 billion ($3.9 billion) and have TL 57.9 billion ($10.8 billion) in assets.

The number of confiscated companies was 1,032, according to an earlier statement by TMSF’s head.

The Turkish government accuses the Gülen movement of masterminding the coup attempt in 2016.

The movement denies any involvement.

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