Kibar Holding A.Ş., a leading industrial conglomerate in Turkey, has entered into a share sale agreement on 8 June 2021 to sell its wholly owned subsidiary Assan Gıda Sanayi ve Ticaret A.Ş., one of Turkey’s leading ketchup, mayonnaise, sauce and tomato paste producers, to The Kraft Heinz Company, one of the world’s largest food and beverage companies. The transaction is expected to close in the second half of 2021, subject to customary closing conditions and regulatory approvals.
Paksoy is pleased to announce that a team led by Elvan Aziz (partner), Hazal Korkmaz (senior associate), and Bengüsu Güvendi (associate) advised Kibar Holding on this transaction.
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