Eregli Demir ve Celik Fabrikalari T : -- Non-current Financial Asset Acquisition
January 04, 2021 at 04:10 pm EST
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According to the decision of our Company's Board of Directors;
- It was decided to purchase of all shares of Kümaş Manyezit Sanayi A.Ş. (and its subsidiaries) in accordance with the provisions of the Share Transfer Agreement to be signed, in cash and in lump sum, by our Company for an operating value of 340 million (three hundred forty million) USD and to transfer the shares of the company over the share price to be calculated by taking into account the net debt amount and net working capital on the date of transfer, after obtaining the relevant legal approvals.
- Regarding the acquisition of shares, it was decided to authorize the Company executives to carry out all the necessary works and transactions, including the signing of the Share Transfer Agreement, to sign contracts, to make the necessary applications to the official authorities, and to give power of attorney.
Share Transfer Agreement was signed between our Company and Yıldız Holding A.Ş. and Gözde Girişim Sermayesi Yatırım Ortaklığı A.Ş. on 4 January 2021.
In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.
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Eregli Demir ve Çelik Fabrikalari TAS published this content on 04 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 January 2021 21:09:00 UTC
Eregli Demir ve Celik Fabrikalari TAS is a Turkey-based company, which is engaged in the production of iron and steel rolled products, alloyed and non-alloyed iron, steel and pig iron castings, cast and pressed products, coke and their by-products. The Company produces plates, hot and cold rolled, tin, chromium and zinc coated flat steel and supplies basic inputs to automotive, white goods, pipes and tubes, rolling, manufacturing, electrics-electronics, mechanical engineering, energy, heating equipment, shipbuilding, defense, and packaging industries. The Companyâs subsidiaries include: Erdemir Asia Pacific Pte Ltd, Erdemir Celik Servis Merkezi Sanayi ve Ticaret AS, Erdemir Madencilik Sanayi ve Ticaret AS, Erdemir Muhendislik Yonetim ve Danismanlik Hizmetleri AS, Erdemir-Romania SRL and Iskenderun Demir ve Celik AS.