Indorama Ventures Public Company Limited acquires 51 pc stake in SASA Polyester Sanayi

Indorama to acquire 51 pc stake in SASA Polyester Sanayi

11:34 AM, 11th April 2014
Indorama Ventures Public Company Limited business news

BANGKOK, THAILAND: Indorama Netherlands BV, subsidiary of Indorama Ventures Public Company Limited (IVL), has signed a sales and purchase agreement for the acquisition of 51 per cent of leading polyester and polyethylene terephthalate (PET) producer SASA Polyester Sanayi AS in Turkey from Haci Omer Sabanci Holding AS. Indorama Ventures will be conducting a mandatory tender offer for the remaining 49 per cent of SASA’s shares as per requirement of the Turkish Capital Markets Legislation. The completion of the deal is subject to usual conditions precedent and regulatory approvals and is expected to be completed within second quarter of 2014.

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