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.