Date: 24 July 2020
舰颈艧别肠补尘 Group, a global player in the glass industry and in the field of chemicals comprising soda and chromium compounds, received approval from the Capital Markets Board (CMB) for its plan to unite all operations under a single umbrella.
舰颈艧别肠补尘 officially applied to the CMB on April 27, 2020 to simplify the structure of its business by merging with its four publicly listed (BIST) subsidiaries (Trakya Cam, Anadolu Cam, Soda Sanayii and Denizli Cam) and Pa艧abah莽e Cam into one single listed corporation. Following approval by the CMB on July 23, 2020, a decision on the merger transaction is expected to be made during the Extraordinary General Assembly meetings of 舰颈艧别肠补尘 and its subsidiaries, between August 26 and 28, 2020, with the agenda focusing specifically on the merger transaction.
鈥淭hrough this merger, we aim to be more agile and swift; build a more suitable legal and administrative infrastructure in terms of global competition; and show a higher share performance for investors. Companies that have the necessary infrastructure to comply with the changing conjuncture in the new world order in the post-pandemic era will have the upper hand. Our merger is a vital move in this respect. We shall take further strategic steps that will enhance our effectiveness in our main business lines, while also pursuing investment opportunities in promising new businesses, in order to achieve our ambitious global targets in the 鈥榥ew normal鈥 era,鈥 Prof. Ahmet K谋rman, 舰颈艧别肠补尘 Group Vice Chairman and CEO, said in his statement.
舰颈艧别肠补尘 Group, a global player in the glass industry as well as business lines including soda and chromium compounds, received approval from the Capital Markets Board (CMB) for its plan to simplify in its legal entity and shareholding structure. Procedures on consolidating the publicly listed (BIST) main subsidiaries of the Group, namely Anadolu Cam, Denizli Cam, Soda Sanayii and Trakya Cam along with Pa艧abah莽e Cam, under the umbrella of 舰颈艧别肠补尘 were initiated on January 30, 2020, and the official application was made to the CMB on April 27, 2020.
Accordingly, following approval by the CMB on July 23, 2020 for the merger of T眉rkiye 艦i艧e ve Cam Fabrikalar谋 A.艦. through the acquisition of Anadolu Cam Sanayii A.艦., Denizli Cam Sanayii ve Ticaret A.艦., Pa艧abah莽e Cam Sanayii ve Ticaret A.艦., Soda Sanayii A.艦. and Trakya Cam Sanayii A.艦., a decision on the merger transaction will be made during the Extraordinary General Assembly meetings of 舰颈艧别肠补尘 and its subsidiaries between August 26 and 28, 2020, with the agenda focusing specifically on the merger transaction. Subsequent to the General Assembly meetings, the merger process is expected to be completed during September in line with the provisions of the relevant legislation.
鈥溄⒕迸煴鸪Σ钩 Group operates internationally, with production activities across 14 countries on four continents, and sales in over 150 countries. Driven by our Group's long-term strategies and competitive goals in the global markets, we set out at the beginning of this year to consolidate all our operations under a single company in order to enhance the maturity of our global organization. The legal process related to the merger transaction that will further strengthen 舰颈艧别肠补尘 in global competition continues as expected. We will hold our General Assembly meetings related to the merger, in the scope of our approved CMB application. When the merger transaction is completed, 舰颈艧别肠补尘 shall be our only company to be publicly traded on BIST,鈥 Prof. Ahmet K谋rman, 舰颈艧别肠补尘 Group Vice Chairman and CEO, said in his statement.
"Agile companies will have the upper hand in the new world order"
鈥淯niting all operations under a single umbrella will boost the competitive edge and economic value created by the Group. By completing this merger process through the strength derived from our 85-year history, 舰颈艧别肠补尘 will find the opportunity to create synergy in many fields in line with its growth strategy creating sustainable value. As such, we aim to be more agile and swift; build a legal and administrative infrastructure that conforms to global competition; and perform even better for higher share performance to attract investors,鈥 K谋rman noted.
鈥淐ompanies that have the necessary infrastructure to comply with the changing conjuncture in the new world order in the post-pandemic era will have the upper hand. Our merger is a vital move in this respect. We shall take further strategic steps that will enhance our effectiveness in our main business lines, while also pursuing investment opportunities in promising new businesses, in order to achieve our ambitious global targets in the 鈥榥ew normal鈥 era. As a global player, 舰颈艧别肠补尘 will continue to create value for all our stakeholders,鈥 K谋rman said in the statement.
600450
Add new comment