One of Turkey’s growing magnesia developers, Bommag Manyezit Sanayi Ve Ticaret Ltd Şti, and its refractory producing sister company, Bomex Refractory, are to be sold by Belgrade-based Bomex Holding.
Bomex Holding has decided to divest its magnesia and refractory assets in order to pursue “newly identified business activities”.
A consortium of two shareholders controls a total of 87.36% of shares in Bomex Refractory and 98% of shares in Bommag Manyezit.
Argonauts Consultants Ltd has been tasked to secure a strategic or financial investor to acquire a majority stake in the two assets, packaged as “Bomex’s Magnesite Operations” (BMO).
Vanja Gavrilovic, board member of Argonaut told IM: “Bomex has identified shipbuilding as very profitable activity in which certain steps have been made, such as a green-field investment in Zrenjanin in Serbia, and the strategic decision was made to exit certain industries,...