American Arrowstreet Capital Receives 10 Percent of KARDEMİR

Turkey's first factory established in 1937 and heavy industry construction, mining, transportation, 10 percent of Kardemir provide basic inputs to the industrial sector, was sold to an American company.

An American company, Turkey's first heavy iron and steel industry, and shares trade on one hundred percent ring in the stock market Karabük Iron and Steel Enterprises Inc. (Kardemir) of the traded EU and D shares were buying 263 million dollars.

In the statement made by Brian Neumann on behalf of Arrowstreet Capital Limited Partnership, Boston State, USA, on the Public Disclosure Platform (KAP), “Karabük Demir Çelik Sanayi ve Ticaret AŞ. The acquisition of 6 million 2018 thousand 3,17 shares from Group D shares of 3 TL and 437 thousand 345 group B shares from 2,97 TL was carried out by our partnership, again from 63 TL from 674 thousand 2,97 units. ”

The statement also stated that as a result of this transaction, the share of the American firm in Kardemir AŞ's capital exceeded the limit of 10.

WHAT IS KARDEMIR?

Kardemir A.Ş. is an iron and steel business located in Karabük. Its foundations were laid on April 3, 1937, by the order of Mustafa Kemal Atatürk, by the then Prime Minister İsmet İnönü. Head after 13 May 1955 had come to an independent state and SOE Turkey Iron and Steel Enterprises General Directorate has taken the name. Then Etibank an institution which Divrigi iron mines also experienced within the field Kardemir mounting elements also overtaking of heavy industry in Turkey, Erdemir and Isdemir has pioneered the establishment.

58 Karabük Iron and Steel Factories, operating as a public company throughout the year, was privatized in 1995 and renamed as Kardemir. Turkey's first and only integrated iron and steel enterprise engaged in manufacturing factory based long made of ore.

Producing pig, bloom, billet, ribbed construction steel, profile, angle iron, pole, all kinds of rail, coke and coke by-products in international quality standards, Kardemir provides basic input to construction, mining, transportation and industrial sectors. Since the establishment of numerous industrial plants in the design, manufacturing and assembly which performs Kardemir in Turkey "Factories Factory Author" known as.

Kardemir has a partnership with Sabancı Group in cement sector (Karçimsa AŞ) and Erdemir Group in mining sector (Ermaden AŞ).

Source : haber.sol.org.t is

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