Turkish Sabanci Holding selling its textile stake

Business Materials 17 May 2015 11:24 (UTC +04:00)

Baku, Azerbaijan, May 17

By Rufiz Hafizoglu - Trend:

Turkish Sabanci Holding is selling its 10-percent share in the capital of Kordsa Global textile company for 19.45 million Turkish liras, said the message posted on the website of Turkish Public Disclosure Platform.

The official exchange rate on May 17 is 2.5744 TRY/USD.

The shares will be sold through the Istanbul Stock Exchange.

Kordsa Global owns 10 enterprises in eight countries.

Sabanci Holding is the largest private financial and industrial conglomerate in Turkey. It is the second largest after Koch Holding. Sabanci Holding was founded in 1967 and is included in the list of Forbes Global-2000. The headquarters of the holding is located in Istanbul.

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