Turkish energy company Zorlu Enerji said on Monday it had placed a bid to buy the Osmangazi power distribution network, which provides power to western Turkey.

Zorlu Enerji made the statement to Borsa Istanbul.

Turkish energy watchdog EPDK in August replaced the management of Osmangazi, which was privatized three years ago, saying its finances were preventing it from delivering the services it had promised. Osmangazi was bought in 2010 by Turkey's Yildizlar SSS Holding for $485 million.

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