Georgia Pacific (GP) has taken steps to withdraw from the tissue business inTurkey.The US group is planning to sell its 50% share in Turkish joint venture company Ipek Kagit to its partner Eczacibasi. Eczacibasi reports it has signed a corresponding agreement with GP. This would make the Turkish group of companies the sole owner of the tissue manufacturer. The transfer of shares still requires approval from the authorities and is to take place at the beginning of 2012. Eczacibasi did not disclose any details about the value of the deal. The planned divestment of the shares is conform with GP's plans to sell its entire European tissue businesses. It became public on 10 November that SCA had submitted a corresponding takeover offer. GP had excluded the mills in Ital) and Turkey from the agreement with SCA.
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