A German firm is set to acquire the Turkish construction company Dumankaya, Savings Deposits Insurance Fund (TMSF) Chairman Muhiddin Gülal has said.

Dumankaya has been managed by the TMSF since it was seized by the Turkish government after the July 15, 2016 coup attempt. Gülal confirmed that they were close to reaching a deal with the German company, which was committed to completing the Turkish firm's four unfinished projects.

Speaking at a press conference in Kayseri, he said that some 8,000 victims who suffered because of Dumankaya's alleged links to the Gülenist Terror Group will be relieved within 10 days of the agreement.

Gülal added that the TMSF runs 960 companies with an active size of TL 50.3 billion ($11.714 billion).