The European Bank for Reconstruction and Development (EBRD) has become a shareholder in Paşabahçe, the glassware subsidiary of Şişecam Group.
EBRD has invested €125 million in the acquisition of an equity stake of 15.44 % in Paşabahçe Cam.
This deal is the largest equity investment of EBRD in Turkey.
Prof. Dr. Ahmet Kırman, Vice Chairman and CEO of Şişecam Group said: “With its 79 years of experience, 20,000 employees, exports to 150 countries and sales over $3.1 billion, Şişecam is a corporation of international scale.
“As a producer located in 13 countries, Şişecam produces 40% of its glass abroad. Şişecam is Europe’s second, world’s third largest producer of glassware; Europe’s third, world’s sixth largest producer of flat glass; and Europe’s fourth, world’s fifth largest producer of glass packaging in terms of production capacity.”
