Cukurova to pay $400 mln debt to state-sources

ISTANBUL, Sept 23 (Reuters) - Turkey's unlisted Cukurova group will pay $400 million in debts to the state Savings, Deposits and Insurance Fund (TMSF), sources from the TMSF told Reuters on Tuesday.

The conglomerate with interests ranging from telecoms to media and construction has a long-standing, multi-billion dollar debt deal with the fund related to banking failures.

The current debts arose from the group's Interbank, which was taken over by the TMSF in 1999. Including principle payments and interest the debt amounted to $533 million, but agreement had been reached on paying a sum of $400 million, the sources said.

They said agreement had been reached on a payment plan but that an accord had still not been signed and the timing of the payments by Cukurova, a major shareholder in mobile operator Turkcell (TCELL.IS), was still not clear.

"The timing will become clear when the agreement is signed, but for it to be signed some details need to be cleared up," one TMSF source said. (Reporting by Ercan Ersoy; Editing by Paul Bolding