Yildirim, a Turkish holding company, has formally requested approval from North Macedonia’s Commission for Protection of Competition (CPC) to acquire assets belonging to Euronickel Industries, formerly known as Feni Industries. These assets, currently held by local lender Komercijalna Banka, include the ferronickel producer’s facilities. Additionally, Yildirim is eyeing the purchase of assets belonging to Nova Refractories, a refractory plant based in Pehcevo, also under the ownership of Komercijalna Banka. The CPC has announced that the public has a ten-day window to provide feedback on these proposed transactions. Kingmen Refractories and Double Eagle Nickel, both local subsidiaries of Yildirim specifically established for these acquisitions, have already inked agreements with Komercijalna Banka on March 22. This move comes after Komercijalna Banka disclosed in December its acquisition of Euronickel Industries’ assets worth 37.9 million euros ($41.2 million) through a forced collection of claims. The bank, being the primary creditor of Euronickel Industries, took possession of these assets as the ferronickel producer entered bankruptcy proceedings in early February.
Source and Credit: seenews.com
