Calik Holding Sells Gediktepe Mine for $290 Million to ACG Acquisition Company
Calik Holding, a prominent Turkish firm, has sold the Gediktepe gold and silver mine, located in Balikesir, to the ACG Acquisition Company, which is listed on the London Stock Exchange.

Calik Holding, a prominent Turkish firm, has sold the Gediktepe gold and silver mine, located in Balikesir, to the ACG Acquisition Company, which is listed on the London Stock Exchange.
The Gediktepe mine, situated in Balikesir, contains an oxidized upper layer rich in gold and silver. The lower layers harbor polymetallic ore deposits that include economically significant quantities of copper, zinc, gold, and silver. The mine was operated by Lidya Madencilik, a subsidiary of Calik Holding.
According to a report by Reuters, ACG Acquisition Company, a special purpose acquisition company (SPAC), announced the acquisition of the Gediktepe mine from Lidya Madencilik for a total of $290 million. The transaction involves a mix of cash and stock exchange. The deal includes the transfer of approximately 30% of ACG's shares, valued at about $37 million, to Lidya, alongside a cash payment of $100 million.
This strategic sale highlights Calik Holding's focus on optimizing its asset portfolio and leveraging opportunities in the global market. Gediktepe's rich mineral reserves have been a significant part of Calik Holding's mining operations in Turkey. The sale to ACG Acquisition Company marks a notable shift in the ownership of one of Turkey's valuable mining assets.
Gediktepe's polymetallic ore, especially its gold and silver content, has made it a site of substantial economic interest. The mine's location in Balikesir and its rich reserves have contributed to its high valuation. With this acquisition, ACG Acquisition Company is set to expand its footprint in the mining sector, leveraging the potential of Gediktepe's resources.
The deal's structure, combining both cash and stock, indicates a strategic partnership between Calik Holding and ACG Acquisition Company. This collaboration is expected to enhance the operational efficiency and market reach of both entities. As Calik Holding continues to diversify and streamline its investments, this transaction underscores its strategic approach to growth and market expansion.
In conclusion, the sale of the Gediktepe mine is a significant milestone for Calik Holding. The transaction with ACG Acquisition Company not only reflects the mine's substantial value but also showcases Calik Holding's strategic foresight in capitalizing on global market opportunities.