Elemental Holding buys firm in Turkey

Recycling company Elemental Holding has signed an agreement to acquire 51 percent in Turkish peer Evciler for $11.5 million, the Polish firm said in a statement on Wednesday. The takeover is scheduled to be completed by December 15, 2014, following the fulfilment of a number of conditions. Elemental Holding will finance the deal with the help of proceeds from two share issues, the statement also said. The full name of the target company is Evciler Chemical, Mining and Precious Metals Industry and Trade. It focuses on the recycling of precious metals and electrical equipment waste.