Anadolu Cam transfered 50% shares of Omco İstanbul Kalıp Sanayi ve Ticaret A.Ş.
An affiliate of Şisecam Group and manufacturer of glass and glass products, Anadolu Cam Sanayii A.Ş. transfered its 50% shares in Omco İstanbul Kalıp Sanayi ve Ticaret Anonim Şirketi (“Company”) to its joint venture partner of the Company, Omco International N.V.. The transaction and share transfer was completed in June 12, 2017.
Erdem & Erdem is proud to represent Anadolu Cam Sanayii A.Ş. in the transaction as legal advisor.
As legal advisor to many landmark mergers and acquisitions of Turkish and foreign investors recently in Turkey, Erdem & Erdem team drafted the transaction documents and participated in the negotiations of the share purchase agreement and ancillary agreements for the transition period. Erdem & Erdem team advised Anadolu Cam Sanayii A.Ş from the beginning of the transaction and also coordinated the signing and closing formalities of the transaction.
Şişecam has transferred 100% shares of Eskişehir Oluklu Mukavva Sanayi A.Ş.
Total issued share capital of Eskişehir Oluklu Mukavva Sanayi A.Ş., a company incorporated through partial spin-off of corrugated cardboard business of Camiş Ambalaj Sanayi A.Ş. whose 99.9% are held by Türkiye Şişe ve Cam Fabrikaları A.Ş. and 0.1% are held by Paşabahçe Cam Sanayi ve Ticaret A.Ş, is transferred, to Mosburger GmbH on 28.02.2017. Mosburger GmbH is an affiliate company of Prinzhorn Holding, an Austrian packaging and recycling company operating under the title of Dunapack Packaging.
It is said by the officials that as an approximate consolidated profit of TRY 66 million is generated, through the completion of the share transfer valued at USD 50.4 million equaling to TRY 180.8 million.
Acting as legal advisors in numerous mergers and acquisitions in Turkey, Erdem & Erdem team is proud to represent Türkiye Şişe ve Cam Fabrikaları A.Ş. and Paşabahçe Cam Sanayi ve Ticaret A.Ş. As legal advisors in this transaction, the team successfully handled the preparation and negotiation of the share purchase agreement and other closing formalities as part of this mandate and coordinated the completion of share transfer.
