Eastgate Capital Group, one of the largest Middle-East based private equity firms, will purchase a 49.8 percent stake in a Turkish textile manufacturing company, Fabeks Dis Ticaret AS.
Eastgate will be acquiring the stake through its subsidiary Eastgate Mena LP and has applied to the regulator in Ankara for buying Fabeks 49.8 percent stake from its owners Aysen Zamanpur and Bijen Zamanpur.
The remainig 50.2 percent share will be held by members of the Zamanpur family and other existing shareholders.
Fabeks operates around 30 outlets in Turkey, Algeria, France and Switzerland under the label Silk & Cashmere.
Fibre2fashion News Desk - India
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