Indorama to acquire Turkish firm Sasa Polyester Sanayi

摘要

Indorama Ventures (Bangkok) says that it will acquire a 51% stake in Sasa Polyester Sanayi (Adana, Turkey), a leading polyester and polyethylene terephthalate (PET) producer in Turkey, from Haci Omer Sabanci Holding (Istanbul). Sasa is a publicly listed company on the Istanbul stock exchange, Borsa Istanbul. Indorama will initiate a mandatory tender offer for the remaining 49% of Sasa's shares on Borsa Istanbul, as required by Turkish capital markets' legislation, Indorama says. Financial details of the deal have not been disclosed. The transaction is expected to be completed by the end of this quarter.