Mediterra Capital Partners Buys a 49 Percent Stake in Turkey-based Arzum (CEE and CIS)

Source: SeeNews

Turkey-focused private equity firm Mediterra Capital Partners has acquired a 49 percent stake in Turkey-based household appliances producer Arzum Elektrikli Ev Aletleri. Mediterra, through its subsidiary SDA International, bought the stake from Turkish Household Appliance, a unit of emerging markets investment manager Ashmore Group. The company intends to use the capital injection to increase its market share by improving its product range and for new growth through strategic acquisitions. Financial details of the transaction were not disclosed.