- Monday, August 21, 2017
Erdem & Erdem represented Soda Sanayii A.Ş. in purchase of the total shares of Cheminvest Deri Kimyasalları Sanayi ve Ticaret Anonim Şirketi (“Cheminvest Turkey”) from Italian seller, Cheminvest S.P.A. and other minority shareholders of Cheminvest Turkey. As a result of the acquisition, Soda Sanayii now becomes the majority shareholder owning 95% shares of Oxyvit Kimya Sanayii ve Ticaret A.Ş. (“Oxyvit”), a subsidiary joint venture of Cheminvest Turkey.
Oxyvit, a manufacturer of fine chemicals prior to the acquisition was a subsidiary joint venture of Cheminvest Turkey owning 50% of shares, Soda Sanayii 45% shares and Şişe ve Cam Fabrikaları A.Ş. (“Şişecam”) owning 5% shares.
Oxyvit has a significant place in the chemicals market and through the acquisition by Soda Sanayii, a group company of Şişecam, Oxyvit is now a new group company of Şişecam.
As legal advisor to many landmark mergers and acquisitions of Turkish and foreign investors since its foundation, Erdem & Erdem team drafted the transaction documents and participated in the negotiations of the transaction documents and share transfer agreements and brought the transaction to a successful closing.