Anadolu Etap Tarim ve Gida Urunleri Sanayi ve Ticaret A.S signed a sales and purchase agreement to acquire Penkon Gida San. A.S. from Penguen Gida (IBSE:PENGD), Gençoglu Holding A.S. and others for an enterprise value of €36.5 million on July 9, 2013. Under the terms of the agreement, Penguen Gida (IBSE:PENGD) and Gençoglu Holding A.S sold 25% stake each in Penkon Gida to Anadolu Etap. The acquisition is subject to relevant authoritie's approval and determination of the net price pursuant to a financial audit carried out by an international audit company in accordance with IFRS for the period ended June 30, 2013. Ernst & Young provided due diligence and acted as accountant to Anadolu Etap.

Anadolu Etap Tarim ve Gida Urunleri Sanayi ve Ticaret A.S completed the acquisition of Penkon Gida San. A.S. from Penguen Gida (IBSE:PENGD), Gençoglu Holding A.S. and others on July 30, 2013.