TURKEY: Ulker owner Yildiz to own 75% of meat firm Aytac
Turkish conglomerate Yildiz Holding is to buy 75% of local meat processor Aytac Et.
Yildiz, which owns a majority stake in local dairy, snacks and frozen food group Ulker, has paid another Turkish conglomerate, Yimpas Holding, US$150m for the stake.
Once concluded, the sale will be referred to Turkey's competition board for approval,Yildiz said.
Founded in 1995 in the town of Cerkes, north of the Turkish capital Ankara ,Aytac employs 216 staff in a 912,000 sq m integrated meat producing facility.
The site has the capacity to process 750 cattle and 2,500 sheep and has an annual production capacity of 6,000 tonnes of Turkish sucuk sausage, 5,400 tonnes of sausages, 7,920 tonnes of salami and 2,112 tonnes of frozen meat.
Yildiz's assets also include global chocolate brand Godiva. The conglomerate is reportedly looking to sell 10% of Ulker in the next six months.
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