Solvay S.A., a leading chemical company based in Belgium, has signed an agreement to sell its North American and European amphoteric surfactant manufacturing business, including the tolling business in Turkey, to OpenGate Capital, a global private equity firm. The transaction is expected to close by the end of March 2021, subject to satisfaction of regulatory approvals.

Paksoy is pleased to announce that a team led by Elvan Aziz (partner) together with Miray Cura (senior associate) as well as Sansal Erbacioglu (partner) for tax matters acted as Turkish counsel to Solvay S.A. on this transaction.

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