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
Related articles
© 2011 EUWID Europäischer Wirtschaftsdienst GmbH | All Rights Reserved.
Copyright notice The individual articles, tables and other contents published by EUWID are protected by copyright and are provided exclusively for the client's own use and the use of the client's employees. In the absence of a more extensive licence agreement, only one copy may be printed for circulation at a single business location designated by the client. Digital distribution of EUWID contents, especially by intranet or by e-mail, within a company, throughout a group of companies, or outside a company is not permitted and constitutes an infringement of copyright law. Read more in our FAQ.