Georgia-Pacific (GP) has signed an agreement with Turkish industrial group Eczacibasi in order to divest its 50% stake in Turkish joint venture company Ipek Kagit. Eczacibasi said it would thus become the sole owner of the Turkish tissue manufacturer. The share transfer is object to approval by the Competition Board and is scheduled to take effect in early 2012. The company did not mention the value of the transaction. The move follows GP's intention to sell its European tissue operations to SCA. The plants GP operates in Italy and Turkey had been excluded in the take over offer submitted to SCA.
Georgia-Pacific to exit Turkish tissue market
© 2011 EUWID Europäischer Wirtschaftsdienst GmbH | All Rights Reserved.
Copyright notice The regular and systematic circulation of price tables from the EUWID Premium section is not permitted. Only one copy is permitted to be printed out for the purpose of circulation within the company. Distribution of EUWID price tables by intranet or by E-Mail within a company, throughout a group of companies, to customers, or to independent sales representatives is not permitted and constitutes an infringement of copyright law.