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Food company Tat completes acquisition of Moova Gida using iDeals™ Virtual Data Room

August 20, 2014

Food company Tat Gida said on Wednesday (August,20) that it completed the acquisition of a 100% full stake in diary producer Moova Gida from Soktas Tekstil and four individual shareholders and made the whole payment of TRY 32.3mn (EUR 11mn) in cash.

Last month, Tat Gida obtained the required approvals from the Competition Board (SPK) for the acquisition of Moova Gida.

In June, Tat Gida sold its Maret brand together with the production facility to the local producer of fresh cut and packaged processed red meat products Namet Gida for USD 75mn and it received the approval from the SPK last month.

Koc Holding, one of Turkey's largest conglomerates, owns 43.65% stake in canned food and tomato paste producing company Tat Gida.

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