Business
Turkey's Borusan Boru jumps after subsidiary starts talks on $550 mln sale in US
Turkey's Borusan Boru jumps after subsidiary starts talks on $550 mln sale in US
About this update from Borusan Birlesik Boru Fabrikalari Sanayi Ve Ticaret Anonim Sirketi
** Shares in Borusan Birlesik Boru Fabrikalari Sanayi Ve Ticaret BIST:BRSAN rise nearly 10%, to top of Tukey's BIST 100 BIST:XU100 index, after subsidiary Borusan Berg Pipe starts talks on $550 million sale agreement in US** Borusan Boru said on Monday that its subsidiary, Borusan Berg Pipe, has started negotiations on a sales agreement for large-diameter pipes** The deal is part of a project underway in the U.S. and is estimated to be worth around $550 million, Turkey-based company specializing in the production of steel pipes and tubes Borusan adds** Brokerages Ziraat Yatırım and Global Menkul Degerler see the agreement to affect Borusan Boru shares positively** Analyst Mustafa Kemal Eski from brokerage Marbaş Menkul Değerler said Borusan stock rose after subsidiary starting talks for sale** "The deal is expected to boost the company's 2026 financial results" Eski says