Borusan completed the acquisition of a minority stake in Borusan Mannesmann Boru Yatirim Holding from Salzgitter.

Borusan, a Turkish industrial group headquartered in Istanbul specializing in steel manufacturing, car distribution, energy generation and logistics, completed the acquisition of a minority stake in Borusan Mannesmann Boru Yatirim Holding, a steel pipe manufacturing company, from Salzgitter, a German steel producer. Financial terms were not disclosed. "With this successful transaction, we are underlining our active portfolio management, which we are pursuing with major steps forward as part of our "Salzgitter AG 2030" Group strategy. We believe that the sale offers Borusan and its employees the best development opportunities in a significant market environment," Burkhard Becker, Salzgitter CFO.