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Turkey’s Polinas acquires 90% shares in Propak

by ChemOrbis Editorial Team -
  • 26/09/2017 (12:06)
According to sources, Polinas Plastik San. ve Tic. A.S. signed an agreement with Propak Ambalaj Uretim ve Pazarlama A.S. to purchase 90% of its shares on September 22, 2017. Polinas, the largest BOPP film manufacturer in Turkey, purchased the company’s shares for a total of €47 million.

Polinas, which produces packaging films, is owned by Gozde Girisim, a sister company to Yildiz Holding. Propak, meanwhile, is a leading Turkish flexible packaging company serving global customers mainly in snacks, confectionary and nuts & dried foods segments.

The transaction is subject to the usual regulatory approvals and is expected to be completed within the fourth quarter of 2017.
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