Kordsa Inc, a subsidiary of Turkey-based Kordsa, has acquired the remaining 39% minority stake in Microtex Composites S.r.l., thereby gaining full ownership of the company. Prior to the transaction, Kordsa held an indirect 61% stake in Microtex.
According to a statement submitted to the Public Disclosure Platform (KAP), the acquisition was carried out under the terms of an existing Option Agreement, and the purchase price was set at €34,940,344.
The company also shared the following explanation regarding the delayed disclosure of the acquisition:
“Given the uncertainty surrounding the outcome of the acquisition process and the lack of a defined timeline in the event of a positive result, an immediate disclosure could have impacted our share value, increased speculative trading activity, and posed risks to our shareholders through potential deviations from the stock’s intrinsic value. To protect the interests of our investors, the decision was made to postpone the public announcement of the acquisition process.”
With this transaction, Kordsa strengthens its position in the advanced composites industry, particularly in the aerospace and automotive sectors, where Microtex operates.
Source: Foreks/ Prepared by: İlayda Gök