Erciyas Çelik Boru Sanayi A.S. signed an agreement to acquire 51% stake of Ozbal Celik Boru Sanayi Ticaret Ve Taahhut Anonim Sirketi (IBSE:OZBAL) from majority shareholders on November 13, 2015. Erciyas Çelik Boru will acquire 7.9 million A group and 2.6 million B group shares. The transaction is subject to approval of the competition authority.

Erciyas Çelik Boru Sanayi A.S. completed the acquisition of 51% stake of Ozbal Celik Boru Sanayi Ticaret Ve Taahhut Anonim Sirketi (IBSE:OZBAL) from majority shareholders on December 8, 2015. As of December 8, 2015, Turkish Competition Authority approved the acquisition.