Koc Holding divested its 72.56% stake in Turk DemirDokum to Vaillant Group for €211 million, aiming to streamline operations while enabling Vaillant to expand its HVAC presence in Turkey.
Target Information
Koc Holding, the oldest and largest conglomerate in Turkey, has a prominent footprint in various sectors and ranks as one of the top 50 companies in Europe, boasting a turnover of approximately USD 36 billion in 2006. The company has played a significant role in the Turkish economy, with diverse investments ranging from automotive to consumer goods.
Turk DemirDokum, a leading heating and air-conditioning company in Turkey, was a subsidiary of Koc Holding. Known for its quality products and established market presence, DemirDokum has been instrumental in the HVAC sector in Turkey, catering to both industrial and domestic needs.
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Industry Overview in Turkey
Turkey's HVAC industry is one of the most dynamic sectors in the country, largely driven by the expansion of gas supply and increasing investment in both industrial and residen
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Disclosed details
Transaction Size: $229M
Equity Value: $229M