Bloomberg News

Eastgate Capital to Buy Half of Turkish Textile Maker Fabeks

January 02, 2012

(Adds owner’s comments in fourth paragraph.)

Jan. 2 (Bloomberg) -- Eastgate Mena LP, a private equity fund controlled by Eastgate Capital Group, will buy a 49.8 percent stake in Fabeks Dis Ticaret AS, a Turkish textile maker, Turkey’s antitrust board said.

Eastgate applied to the Ankara-based regulator on Dec. 28 for approval to buy the Fabeks stake from owners Aysen Zamanpur and Bijen Zamanpur, according to a statement on the board’s website. Members of the Zamanpur family and other owners will continue to hold the remaining 50.2 percent, it said.

Fabeks has about 30 shops in Turkey, France, Algeria and Switzerland, under the brand Silk & Cashmere, according to the company’s website.

“In our five-year strategic plan we have a more aggressive growth strategy,” Aysen Zamanpur said in an e-mailed statement today. “We believe that partnering with Eastgate Capital Group would contribute to that goal.”

--Editor: Aydan Eksin

To contact the reporter on this story: Ercan Ersoy in Istanbul at eersoy@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net


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