W. R. Grace & Co. has entered into definitive agreements to acquire the remaining 50 percent equity interest in the joint venture it formed in 1996 with STFA Yatirim Holding A.S., one of Turkey’s most established and reputable conglomerates providing services in construction, natural gas distribution, construction equipment, and construction chemicals. With the agreement, STFA will sell its 50 percent stake in Grace Yapi Kimyasallari to a Grace subsidiary.
The business, located in Istanbul, Turkey, provides cement additives, concrete admixtures, and building envelope products in Turkey and the surrounding region. The transaction is pending Turkish regulatory approval and is expected to close by the end of the year. Terms were not disclosed.