NIREUS S.A., in the context of implementation of its business plan which includes its production internalization, announces the acquisition of the 100% of the Turkish company CARBON A.S. in 13/03/2007, through the company MIRAMAR A.S., which is included in the international participations developed through the NIREUS S.A subsidiary, NIREUS INTERNATIONAL Ltd.
The acquisition cost of CARBON A.S. reached the amount of 550.000 US dollars, 250.000 US dollars of which was paid with the signing of the agreement while the remaining sum will be paid within the next six months. An economic due diligence took place in the acquired company, by the international house Deloitte, while the legal due diligence was undertaken by a reputable law company of Istanbul. The above mentioned amount will be covered by own funds and was determined through negotiations of the two sides. CARBON A.S. possesses fish farming licenses of production capacity of 5000 tones in the major Izmir area of Turkey. With the fish farming license acquired the NIREUS Group, implementing investments of 12 mil euros in the next 3 year period, expects an increase of the quantity of market size fish produced by 3 thousand tones in the next 4 year period.