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Albania's Balfin to sell Albchrome to Turkey's Yildirim Group - report

Albania's Balfin to sell Albchrome to Turkey's Yildirim Group - report Deal, business, corporate contracts

TIRANA (Albania), December 23 (SeeNews) - Albanian investment group Balfin has signed a contract to sell chrome producer AlbChrome and its two subsidiaries to Turkey's Yildirim International Mining Investments, part of industrial conglomerate Yildirim Group for an undisclosed price, Albanian media reported.

The parties to the deal have already submitted a request for approval to Albania's competition authority, Albanian Daily News reported on Wednesday.

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Yildirim plans to close the transaction, which will be an all-cash purchase, by the end of January.

Albchrome is the largest chrome ore and ferrochrome producer in Albania. The company has two subsidiaries - Albchrome LLC and Vllahen Mining LLC.

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