Erdem & Erdem represented Soda Sanayii A.Ş. in purchase of the total shares of Cheminvest Deri Kimyasalları Sanayi ve Ticaret Anonim Şirketi (“Cheminvest Turkey”) from Italian seller, Cheminvest S.P.A. and other minority shareholders of Cheminvest Turkey. As a result of the acquisition, Soda Sanayii now becomes the majority shareholder owning 95% shares of Oxyvit Kimya Sanayii ve Ticaret A.Ş. (“Oxyvit”), a subsidiary joint venture of Cheminvest Turkey.
Oxyvit, a manufacturer of fine chemicals prior to the acquisition was a subsidiary joint venture of Cheminvest Turkey owning 50% of shares, Soda Sanayii 45% shares and Şişe ve Cam Fabrikaları A.Ş. (“Şişecam”) owning 5% shares.