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Erdem & Erdem Advises Soda Sanayii on Acquisition of Cheminvest Turkey

Erdem & Erdem Advises Soda Sanayii on Acquisition of Cheminvest Turkey

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Erdem & Erdem has represented Soda Sanayii A.S. in its purchase of 100% of the shares of Cheminvest Deri Kimyasallari Sanayi ve Ticaret Anonim Sirketi from Italian seller Cheminvest S.P.A. and other minority shareholders.

As a result of the acquisition, Soda Sanayii now owns 95% of the shares of Oxyvit Kimya Sanayii ve Ticaret A.S. (“Oxyvit”), a subsidiary joint venture of Cheminvest Deri Kimyasallari Sanayi ve Ticaret Anonim Sirketi ("Cheminvest Turkey").

Oxyvit, a manufacturer of fine chemicals, was, prior to the acquisition, a subsidiary joint venture of Cheminvest Turkey, which owned 50% of its shares, Soda Sanayii, which owned 45% of its shares, and Sise ve Cam Fabrikalari A.S. (“Sisecam”), which owns 5% of the shares. 

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