01/15/2014

Glassmaker Sisecam puts land in Istanbul up for sale

Glassmaker Sisecam announced that it will hold a tender to sell its 117,018m2 land plot, the site of its idle Pasabahce plant, in the Beykoz district of Istanbul.

Sisecam mandated DTZ Pamir & Soyuer as adviser to oversee the sale and the initial bids will be collected by January 31.

Last month, Sisecam and Anadolu Cam, both Is Bankasi group companies, informed that they completed the sale of their common land plot in Istanbul's Zeytinburnu district, where their idle Topkapi plant is located, for a consideration of TRY 320m (€ 108m). Is Real Estate Investment Trust acquired 75% of the land plot and NEF (Timur Gayrimenkul) acquired the remaining 25%.

Source: sisecam/glass-international.com/