Turkey’s Palmet Plans Listing Next Year After Grid Takeover

Turkish energy firm Palmet Enerji AS is preparing for an initial public offering next year after it acquires two gas grids from Zorlu Holding.

The acquisition, which is pending regulatory approvals, will double Palmet’s gas customers to 2 million homes and sites in Turkey, Chairman Doganay Samuray said in an interview. A special purpose vehicle will be created to hold all of Palmet’s gas assets and a portion of the SPV may be listed, Samuray said.

The two energy companies announced in seperate filings Wednesday that Palmet will acquire Zorlu Enerji Dagitim AS, a unit of Zorlu Holding, for ...