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Indorama to acquire Turkish firm Sasa Polyester Sanayi

12:18 PM MDT | April 10, 2014 | Deepti Ramesh

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 Hac─▒ Ömer Sabanc─▒ Holding (Istanbul). Sasa is a publicly listed company in the stock exchange of Istanbul—Borsa Istanbul. Indorama will initiate a mandatory tender offer for the remaining 49% of Sasa’s shares on Borsa Istanbul, as required by the Turkish capital markets legislation, Indorama says. Financial details of the deal have not been disclosed. The...

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