Dogan Holding completed the acquisition of a 51% stake in Aytemiz Akaryakıt Dagıtım for $65m.

Dogan Holding, a Turkish energy holding, completed the acquisition of a 51% stake in Aytemiz Akaryakıt Dagıtım, which offers wholesale distribution of petroleum and petroleum products, for $65m. “The acquisition of 50% of Aytemiz shares demonstrates Doğan Group’s determination for presence in the energy business in general, and in fuel oil distribution business specifically. We believe that we will attain a great synergy through the combination of our know-how in the energy and distribution fields as well as our financial strength, with the experience, capability, infrastructure, and sound logistics and distribution network of the Aytemiz Family in the fuel oil industry. This synergy will bring added value for our shareholders, clients, and all our stakeholders in the industry. From this point forward, our objective is to enter the top five in the short term in the fuel oil business,” Yahya Üzdiyen, Doğan Holding Chief Executive Officer.