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Turkey's Emlak Konut acquires 49% stake in Emlak Planlama Insaat

Emlak Konut GYO AŞ acquired a 49% stake in fellow Turkish property company Emlak Planlama Insaat Proje Yönetimi ve Ticaret AS for approximately 141.1 million Turkish lira.

The transaction, completed Dec. 24, involved the acquisition of 31,850,000 Emlak Planlama shares at 4.43 lira apiece.

The seller was the Republic of Turkey Prime Ministry Housing Development Administration.

As of Dec. 24, US$1 was equivalent to 5.29 Turkish lira.