Tue, 01/05/2021 - 15:42
TOKYO — EBARA CORPORATION (EBARA) executed a stock purchase agreement to acquire all outstanding shares of Çiğli Su Teknolojileri A.Ş., the parent company of Vansan Makina Sanayi ve Ticaret A.Ş., a Turkish pump manufacturer, and Vansan Makina Montaj ve Pazarlama A.Ş. (Vansan), with current shareholders.
The contract was executed on December 21st, 2020. The stock purchase is to be completed by the end of March 2021. 256,088,000 shares will be acquired for approximately 108 million USD.
With the acquisition of Vansan, EBARA aims to enhance their global supply chain by strengthening access to markets in Europe, Central Asia, the Middle East and Africa.