"Wavin acquire Turkish company
Wavin announced their acquisition of Turkish manufacturer Pilsa Plastic, last week.
The purchase price of $82m (E56m approx) will be funded from existing credit facilities. The 2007 revenue of Pilsa is approximately E85 million. The company says it expects that Turkven, a Turkish private equity firm, and the Netherlands Development Finance Company (FMO) will become co-investors, with Wavin maintaining a majority stake of 60%. This is expected to happen during the first quarter of 2008."
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