Eregli Demir ve Çelik Fabrikalari T.A.S. signs agreement to acquire Kumas Manyezit Sanayi A.S. from Gozde Girisim Sermayesi Yatirim Ortakligi A.S. and Yildiz Holding A.S. for $340 million.

Eregli Demir ve Çelik Fabrikalari T.A.S. (IBSE:EREGL) signs agreement to acquire Kumas Manyezit Sanayi A.S. from Gozde Girisim Sermayesi Yatirim Ortakligi A.S. (IBSE:GOZDE) and Yildiz Holding A.S. for $340 million on January 4, 2021. Eregli Demir ve Çelik Fabrikalari T.A.S. will acquire 51% and 49% stake from Gozde Girisim Sermayesi Yatirim Ortakligi A.S. and Yildiz Holding A.S. respectively. Completion of the transaction depends on the fulfillment of the closing conditions, including obtaining the necessary legal and administrative approvals.

Th transaction has been approved by the independent Board of Eregli Demir ve Çelik Fabrikalari. Eren Kursun,Ali Selim Demirel of Baker & McKenzie LLP acted as legal advisor to Eregli Demir ve Çelik Fabrikalari T.A.S.