Çimsa completed the acquisition of a 94.7% stake in Mannok from Silver Point Capital, Brigade Capital, and Contrarian Capital Management.

Çimsa, a building material company, completed the acquisition of a 94.7% stake in Mannok, a building materials producer, from Silver Point Capital, Brigade Capital, and Contrarian Capital Management, an investment management companies, for $330m. “We believe this agreement marks the beginning of a new era for Mannok. We are committed to preserving the existing workforce and creating new employment opportunities in the region to support Mannok’s further growth under the current strong local leadership team. As a company that places talent management at the core of our human resources philosophy, we will implement comprehensive talent development programs for Mannok’s employees," Umut Zenar, Çimsa CEO.