Brief: Alarko Holding Says Subsidiary Alarko Gübre Fabrikaları Signs Memorandum of Understanding For Acquisition of Verim Gübre For $38.2 Mln

Alarko Holding AS

15/02/2024 06:10

Feb 15 (Reuters) - ALARKO HOLDİNG  ALARK.IS :
    * SAID ON WEDNESDAY SUBSIDIARY ALARKO GÜBRE FABRIKALARI
SANAYI VE
TICARET SIGNS A MEMORANDUM OF UNDERSTANDING WITH AHMET KOÇ, SEFA
KOÇ, GIMAK DENIZCILIK AND GUARANTOR NEGMAR DENIZCILIK YATIRIM TO
ACQUIRE ALL SHARES OF VERIM GÜBRE 
    * IT IS ENVISAGED THAT A SHARE PURCHASE AGREEMENT REFLECTING
 KEY
TERMS IN MOU WILL BE SIGNED BETWEEN PARTIES, ON CONDITION THAT
VERIM GÜBRE ACQUIRES ALL SHARES OF SULFERT KIMYA SANAYI TICARET
AND EGE ANTREPO LOJISTIK AND OBTAINS NECESSARY APPROVALS FROM
COMPETITION AUTHORITY AND REGULATORY AUTHORITIES FOR ACQUISITION
    * FROM COMPANIES SUBJECT TO MOU, SULFERT KIMYA OWNS NEARLY
65,000
M2 LAND, INCLUDING NEARLY 30,000 M2 OF FERTILIZER PRODUCTION
FACILITY AND WAREHOUSES LOCATED IN İZMIR AND A SOLAR POWER PLANT
WITH AN INSTALLED POWER OF 2.1 MW 
    * EGE ANTREPO HAS AN OPERATING PERMIT FOR WAREHOUSE, AND
VERIM
GÜBRE HAS 25 PRODUCT REGISTRATION CERTIFICATES FOR DIFFERENT
FERTILIZERS IN CHEMICAL, ORGANIC, ORGANOMINERAL, LIQUID AND
POWDER PRODUCT GROUPS
    * ACCORDING TO MOU, SHARE PURCHASE PRICE UNDER  SHARE
PURCHASE
AGREEMENT WILL BE DETERMINED AS TURKISH LIRA EQUIVALENT OF USD
38.2 MILLION ON UNDERSTANDING THAT IT WILL BE UPDATED DUE TO
CERTAIN ADJUSTMENTS.


        
 Source text for Eikon:  urn:newsml:reuters.com:*:nIKA2VMWYp
 Further company coverage:  ALARK.IS  

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