International Investors Reportedly in Talks to Buy Stake in Natura Gida Sanayi Ve Ticaret Anonim Sirketi
May 26, 2021
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A group of international investors including Davidson Kempner Capital Management LP is vying for control of Turkey’s No. 2 ice-cream maker and the biggest competitor to Unilever Plc’s products in the country, according to people with knowledge of the matter. The European Bank for Reconstruction and Development and Afendis Capital Partners have teamed up with Davidson Kempner in making a bid to acquire 82% of Natura Gida Sanayi Ve Ticaret Anonim Sirketi, said the people, who asked not to be named as the deliberations are confidential. The company is known popularly as Golf for the name of its ice-cream brand. The group has offered to commit a total of $90 million, which would include the acquisition price, and also go toward repaying its outstanding debt and investing for further growth, said the people. Albaraka Türk Katilim Bankasi A.S. (IBSE:ALBRK) owns the stake through one of its venture capital funds. The remaining 18% of the company is controlled by investors including Ergun Akkaya, its Chief Executive and Chairman of the board, said the people. The EBRD and Afendis Capital declined to comment, as did Albaraka and Natura Gida. Davidson Kempner didn’t respond to emailed questions.
Albaraka Turk Katilim Bankasi AS (Albaraka Turk) is a Turkey-based financial institution engaged in interest-free financial services. The Company provides a range of banking and financial services include Retail banking, which offers personal financing, credit cards, bank cards and other banking services, and Commercial/Corporate banking, which includes credits, cash management, foreign trade, business card and insurance services, as well as current and participation accounts. The Bank operates through a network of 122 domestic branches. In addition, the Bank operates as an insurance agency on behalf of Isik Sigorta, Anadolu Sigorta, Gunes Sigorta, Allianz, Aviva Sigorta, Neova Sigorta, Zurich Sigorta, Ankara Sigorta, Avivasa Emeklilik ve Hayat and Generali Sigorta. Albaraka Turk is a part of Albaraka Banking Group of Saudi Arabia.