Trakya Cam Sanayii A.Ş, a group company of Turkey’s Şişecam Group acquired all assets of Italy-based flat-glass manufacturer Sangalli Vetro Porto Nogaro for a gross of €84.7 million. Sangalli has an annual production capacity of 220,000 tons and means Şişecam has become the largest flat-glass manufacturer of Europe in terms of capacity.
Erdem & Erdem team has a track record in acting as legal advisors for outbound investments of Turkish companies advised Şişecam and Trakya Cam in this transaction for the acquisition of the shares of Sangalli. Erdem & Erdem’s Özgür Kocabaşoğlu and Gaye Spolitis participated in the negotiations of the acquisition and prepared transaction agreements in collaboration with Italian law firm Lombardi Molinari Segni.
The acquisition of Sangalli will create synergies with the Şişecam’s flat-glass operations in Bulgaria, Romania, Germany, Slovakia, Hungary, Russia, India and Egypt. This acquisition will also contribute to Şişecam’s competitiveness in the European flat-glass market in terms of production capacity and logistics.