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Sabancı Sells 51 Pct. Stake İn Sasa To Erdemoglu Holding

Turkish conglomerate Sabanci Holding sold 51 percent stake in its subsidiary Sasa at 102 million dollars. "The share purchase agreement was signed on 13 January, regarding the sale of all shares in our subsidiary Sasa Polyester Sanayi, with a nominal value of 110.3 million lira, corresponding to 51 percent of the share capital of the Company, to Erdemoğlu Holding" said in the Sabanci Holding statement, released to Public Disclosure Platform, on Tuesday. According the share purchase agreement, the transfer price of the shares in Sasa Polyester Sanayi, corresponding to 51 percent of the share capital stood at 102 million dollars, excluding adjustment, the company said in the statement. The transfer price was determined through bargaining negotiations between the parties and 10 million dollars of the transfer price was paid in advance, remaining part of it will be payable on the closing date.

13.01.2015 18:36

Turkish conglomerate Sabanci Holding sold 51 percent stake in its subsidiary Sasa at 102 million dollars.

"The share purchase agreement was signed on 13 January, regarding the sale of all shares in our subsidiary Sasa Polyester Sanayi, with a nominal value of 110.3 million lira, corresponding to 51 percent of the share capital of the Company, to Erdemoğlu Holding" said in the Sabanci Holding statement, released to Public Disclosure Platform, on Tuesday.

According the share purchase agreement, the transfer price of the shares in Sasa Polyester Sanayi, corresponding to 51 percent of the share capital stood at 102 million dollars, excluding adjustment, the company said in the statement.

The transfer price was determined through bargaining negotiations between the parties and 10 million dollars of the transfer price was paid in advance, remaining part of it will be payable on the closing date. The shares would be transferred upon the approvals of the relevant authorities. - Istanbul

Kaynak: DHA

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