Türkiye Şişe ve Cam Fabrikaları A.Ş. (SISE) has announced the sale of its inactive company Pivdenna BV located in Ukraine.
## Şişecam’s Sale of the Company in Ukraine
On October 7, 2024, Şişecam announced through the Public Disclosure Platform (KAP) that the sale of Pivdenna BV has been completed. The sales process was conducted through Şişecam’s 100% subsidiary, Sisecam Investment B.V. (SIBV), as part of the restructuring of the company’s inactive affiliate in Ukraine, and it was finalized on October 7, 2024. Pivdenna BV was sold in its entirety to Alsutrans Cargo 047 Nakliyat Dış Ticaret Ltd. Şti., based in Turkey.
## Sale Details and Impact on the Company
The land and real estate owned by LLC Brewery Pivdenna, located in Odessa, Ukraine, which is a 100% subsidiary of SIBV, were transferred to Pivdenna BV, granting usage rights until 2035. Following this transfer, the sale of Pivdenna BV took place. The sale price was set at 978,922 USD and was conducted as a cash transaction. Şişecam stated that since the sale involved an inactive company, it would not have a significant impact on its operations.
The profit or loss from the sale of Pivdenna BV will be reported in the financial statements to be published on December 31, 2024.
Source
Arwen Volkov, A graduate of the University of St. Gallen in Switzerland with a degree in International Finance, Arwen specializes in sustainable finance and green investments. She began her career at an investment bank in London, where she developed financing models for environmentally friendly projects. Known for her analytical and strategic thinking skills, Arwen is a sought-after financial consultant. In her spare time, she mentors fintech startups, contributing to their growth strategies. She is also a nature enthusiast and an amateur photographer.
