Sabaf S.p.A. has recently signed a Share Purchase Agreement for the acquisition of the 100% share capital of Okida Elektronik San. ve Tic. A.S. (“Okida Elektronik”). The acquisition of 70% of shares was completed through Sabaf Beyaz Esya Parcalari, which is Sabaf S.p.A’s Turkish subsidiary, while the remaining 30% of Okida Elektronik’s share capital was directly acquired by Sabaf S.p.A.
The Seller, Okida Elektronik, is a Turkish company that specialises in the manufacture and sale of a comprehensive range of electronic control boards, timers and modules for home cooking appliances, including ovens, hoods, stoves, vacuum cleaners, refrigerators and freezers.
On the other hand, the acquiring company, namely Sabaf S.p.A., is a listed Italy-based company that produces components for household cooking appliances, such as gas burners, gas taps, thermostats and hinges.
Arslan Law Firm acted as lead transaction counsel to the Seller, Okida Elektronik, in the acquisition by Sabaf S.p.A. In this regard, Arslan Law Firm has assisted Okida Elektronik with the drafting, reviewing and negotiating of the Share Purchase Agreement as well as other legal contracts and memoranda.
In addition, Arslan Law Firm assisted Okida Elektronik with the convening of the Board Meetings and General Assembly Meetings. Our team managed the entire Tender Process with Okida Elektronik’s shareholders and other related parties. Our scope of work also included legal advice and solutions with regard to the approval and registration proceedings of the share transfer transaction before public authorities.
Last but not least, we have represented Okida Elektronik during negotiations and meetings with the Buyer, Sabaf S.p.A, and have provided our Client, Okida Elektronik, with a variety of other tailor-made advisory services for each specific legal requirement.