Beiersdorf to complete full takeover of Turkish cosmetics firm

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The Nivea skin care maker is set to acquire the remaining 50 per cent equity in EBC Eczacibasi-Beiersdorf Kozmetik Ürünler Sanayi ve Ticaret as it looks to further grow its brands.

Eczacibasi Holding A.S. and Beiersdorf AG each held a 50 per cent stake in this company up until this point, with the Germany-based firm due to complete the takeover on January 1, 2013.

"Turkey already is an important market for Beiersdorf and will gain even more importance in the future,”​ comments Stefan F. Heidenreich, CEO of Beiersdorf AG.

“We express our gratitude to our long-standing partner for the successful cooperation over the past 20 years. It is through this shared commitment that we have been able to grow our brands - above all NIVEA - and achieve leading market positions."

The acquisition is subject to approval by the relevant Federal Trade Commission.

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