Turkey transfers its Ziraat Bank, Istanbul bourse, Botas stakes to wealth fund
ANKARA, Feb 5 (Reuters) - Turkey has transferred its stakes in Ziraat Bank, the Borsa Istanbul stock exchange and state-owned pipeline operator Botas, among others, to a new sovereign wealth fund, the official gazette said on Sunday.
Turkey is setting up the wealth fund - Turkey Asset Management - with initial paid-in capital of 50 million liras ($16 million), to be financed from the state privatisation fund.
Its strategic aim is to generate annual growth of 1.5 percent over the next 10 years.
(Reporting by Ece Toksabay; Editing by Louise Ireland)
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