AGROTECH announced the completion of the contract for the 70 percent purchase of a fertilizer manufacturing company.
In the note published on the public disclosure platform, it was stated as follows.
“In the Material Event Disclosure made by our Company on 11.12.2023, it was announced to the public that preliminary negotiations for the acquisition of 70% of the shares of a company operating in the field of fertilizer production, headquartered in Turgutlu District of Manisa Province.
The preliminary negotiations for the acquisition of the shares of the said company have been concluded positively and legal procedures have started for the signature of the share transfer agreement in accordance with the Board of Directors Decision No. 27 dated 22.12.2023.
The acquisition of the shares, which took place within the scope of our Company’s growth targets and investments, was influenced by the fact that the company in question has an important position as a supplier in the sector, has a widespread technical and marketing network throughout Turkey, and has both an organic fertilizer production certificate and more than 80 fertilizer licenses.
The name of the company will be kept confidential until the share transfer agreement is signed in order not to affect the sale.
Developments in the relevant process will be presented to the public separately.
Respectfully announced to the public”