On December 28, Turkish long steel producer Kardemir Karabuk Demir Celik San. ve Tic. A.S. (Kardemir) announced that it has completed the acquisition of all shares of Enbati Elektrik Uretim San. ve Tic. A.S. through a share purchase of €10 million in cash.
Enbati Elektrik Uretim is due to build a 22.5 MW hydroelectric plant. The purchase was completed after receiving relevant approvals from the Energy Market Regulatory Authority (EPDK). The seller in the transaction is Akfen Hidroelektrik Santral Yatırımları A.S., a subsidiary of Akfen Holding A.S.
As SteelOrbis previously reported, on September 27 Kardemir signed an agreement with Akfen Hidroelektrik Santral Yatırımları for this acquisition.