ISTANBUL (Turkey), November 18 (SeeNews) – Turkish meat products and ready-cooked foods maker Pinar Entegre Et ve Un Sanayii [BIST:PETUN], or Pinar Et, said it has decided to acquire a further 4.74% stake in local sales and marketing firm Yasar Birlesik Pazarlama, Dagitim, Turizm ve Ticaret for 13.2 million Turkish lira ($5.9 million/4.7 million euro).
With the acquisition, Pinar Et will raise its stake in Yasar Birlesik Pazarlama to 42.78%, it said in a bourse filing on Monday. Pinar Et will acquire the stake of local bottled water maker Pinar Su Sanayi ve Ticaret in Yasar Birlesik Pazarlama.
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The other shareholders in Yasar Birlesik Pazarlama are dairy firm Pinar Sut, with a stake of 31.82%, diversified group Yasar Holding (22.48%) and others.
The transaction is expected to be closed in December.
Yasar Holding also owns 54.17% of Pinar Et and a 58% stake in Pinar Su.
(1 euro = 2.7826 Turkish lira)