Trakya Cam Sanayii A.Ş, a group company of Turkey’s Şişecam Group acquired all assets of Italy-based flat-glass manufacturer Sangalli Vetro Porto Nogaro for a gross of €84.7 million.
Sangalli has an annual production capacity of 220,000 tons and means Şişecam has become the largest flat-glass manufacturer of Europe in terms of capacity.
Erdem & Erdem team has a track record in acting as legal advisors for outbound investments of Turkish companies advised Şişecam and Trakya Cam in this transaction for the acquisition of the shares of Sangalli. Erdem & Erdem’s Özgür Kocabaşoğlu and Gaye Spolitis participated in the negotiations of the acquisition.
The acquisition of Sangalli will create synergies with the Şişecam’s flat-glass operations in Bulgaria, Romania, Germany, Slovakia, Hungary, Russia, India and Egypt. This acquisition will also contribute to Şişecam’s competitiveness in the European flat-glass market in terms of production capacity and logistics.
