Frigoglass Makes Local Acquisition

Greek company Frigoglass, which supplies custom-made beverage coolers, has agreed to purchase a 86% stake in Turkish company SFA Soğutma Sanayi in a deal worth EUR50mn (US$78mn). Frigoglass has said that it is looking to increase its sales in the emerging markets of the Middle East and Asia, which are experiencing attractive growth levels. According to the terms of the deal, which must be approved by Turkish regulators, the price excludes costs, but includes debt. SFA is based in Istanbul, producing refrigeration equipment for brewers, dairies and juice makers. As a part of the deal, Frigoglass will have control of

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