The International Transporters Association of Turkey (UND) is preparing to pay $650m for UN Ro-Ro, which it sold for $1.33bn.

It has formed a joint venture with Ekol Lojistik for the purchase, the Hurriyet daily said.

UND boss Cetin Nuhoglu wants to carry out an IPO of the company within five years, but if his bid fails, he will start a new ro-ro company.

KKR