DIC completes sale of Almatis to Oyak

By Liz Gyekye
Published: Tuesday, 01 September 2015

Today marks the start of a new chapter for German speciality alumina producer, Almatis, as Turkey’s largest pension fund, Oyak, has officially acquired the group. The valuation of the transaction was not disclosed, but rumours put the deal at around $1bn.

Investment firm Dubai International Capital (DIC), the majority shareholder of speciality alumina producer Almatis GmbH, has completed the sale of the company to Turkey’s largest private pension fund, Oyak Group.

Although terms of the transaction were not disclosed, according to sources cited by Reuters newswire, the deal was worth around $1bn....

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