Closing formalities of the transfer of 10% of the shares of Şişecam Çevre Sistemleri A.Ş., a subsidiary of Şişecam, to European Bank for Reconstruction and Development (EBRD) were successfully completed on December 28, 2016, where Şişecam was represented by Erdem & Erdem Law Office.

Erdem & Erdem team provided legal advice to Şişecam during each phase of the share transfer process and the closing of the transaction.

Share purchase agreement and shareholders’ agreement constituting the basis of the transaction had been signed during the press conference and signing ceremony on June 28, 2016. With this partnership which is the first of its kind in the world, Şişecam and EBRD will engage in the modernization of Turkey’s leading cullet collection and recycling companies and the increase of both the quality and capacity of cullet recycling, through Şişecam Çevre Sistemleri A.Ş.