Turkish kitchenware maker Hisar has “left” its plant in Istanbul’s Esenyurt district with government-run Ziraat Bank in exchange for a loan debt, Ismail Erdogan, chairman of the company, told local business daily Dunya on March 7.
Ziraat is currently collecting bids for the plant at a minimum start-price of Turkish lira (TRY) 94mn ($12mn).
The company plans to launch a new plant in Cerkezkoy in Tekirday province, which neighbours Istanbul. The machinery in the Esenyurt plant is to be transferred to the new plant by end-July, according to Erdogan.

Addiko Bank's management board has withdrawn its recommendation that shareholders accept Raiffeisen Bank International's (RBI) takeover offer after Slovenia's Nova Ljubljanska Banka (NLB) raised its ... more
S&P Global Ratings has upgraded the credit ratings of several subsidiaries of Nasdaq-listed Freedom Holding, raising ratings on Freedom Finance, Freedom Finance Europe, Freedom Finance Global and ... more
Freedom Holding Corp (Nasdaq: FRHC) is positioning itself to expand deeper into Europe’s financial services market with plans to launch a digital bank in France, backed by a €500mn ($572mn) ... more