The Pelister Atayilmaz Enkur Law Office has advised the Hoshizaki Corporation on its acquisition of 28.6% of shares in Oztiryakiler Madeni Esya Sanayi ve Ticaret via a share transfer from the Oztiryakiler family and the subscription of new shares following a capital increase in Ozti. The Oztiryakiler family was advised by Taboglu Attorneys at Law. Financial details of the transaction, which was cleared by the Turkish Competition Board on December 6, 2019, and closed on December 17, 2019, were not disclosed.
According to PAE, “following the completion of two additional share acquisitions, which are expected to take place in 2021 and 2023, Hoshizaki’s shareholding in Ozti will increase to 51%.”
Ozti is a Turkish manufacturer of industrial kitchen equipment, refrigerators, and dishwashers.
Hoshizaki manufactures kitchen equipment including ice machines, ice dispensers, refrigerators, freezers, and food safety/sanitation products.
The PAE team included Partners Gokhan Enkur, Zeynep Sener, and Emre Atayilmaz, Senior Attorney Senem Sarac, and Associates Said Kardic, Yafes Oner, and Hasan Ozgur.
The Taboglu team included Managing Partner Esin Taboglu and Associate Naz Gulce Sakarya.