SATS recently announced the incorporation of two wholly-owned subsidaries in Turkey.
According to a press release, the Board of Directors of SATS Ltd. incorporated subsidiaries known as SATS Investments Turkey Havacılık Yatırımları Anonim Şirketi (“SATS Investments Turkey”) and SATS Food Turkey Gıda Hizmetleri Anonim Şirketi (“SATS Food Turkey”) on Jan. 17.
The release explains SATS Investments Turkey is set up primarily to hold the Company’s investments in Turkey, while SATS Food Turkey is set up primarily to carry out food-related projects in Turkey. According to the company, the incorporation of SATS Investments Turkey and SATS Food Turkey is not expected to have any material impact on SATS’ net tangible assets per share and earnings per share for the current financial year.
