Invest News DetailBelgium-based global innovation service provider of chemicals and food ingredients Azelis acquired the specialty lubricant distribution assets of Ak-taş, a Turkish supplier of lubricant and metal working fluids (L&MWF). The transaction also included the acquisition of the base oil distribution business of Whitechem, the subsidiary of Ak-taş, together with its oil additive business.Anna Bertona, Azelis CEO and President of the EMEA region commented on the transaction, saying, “Acquiring the distribution assets of Ak-taş and WhiteChem allows us to develop critical mass in the L&MWF market in EMEA. We have a clear strategy to further grow our presence in these specialty segments and this acquisition gives us access to all key building elements. We look forward to welcoming them into the Azelis family and together growing the L&MWF business of Azelis".The transaction is expected to close in the third quarter of 2022, after the fulfilment of customary closing transactions.