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English
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oda_NoncurrentFinancialAssetAcquisitionAbstract|
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oda_UpdateAnnouncementFlag|
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Evet (Yes)
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oda_CorrectionAnnouncementFlag|
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Hayır (No)
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oda_DateOfThePreviousNotificationAboutTheSameSubject|
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22/03/2019
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oda_DelayedAnnouncementFlag|
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Hayır (No)
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oda_AnnouncementContentSection|
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oda_BoardDecisionDateForAcquisition|
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22/03/2019
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oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForAcquisition|
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The Board Decision was taken on 22.03.2019 by our fully owned subsidiary Ardutch B.V.
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oda_TitleOfNoncurrentFinancialAssetAcquired|
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Retail Holdings Bhold B.V.
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oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|
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Owns 56.99% of Singer Bangladesh Limited shares.
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oda_CapitalOfNoncurrentFinancialAsset|
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EUR 45,000
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oda_AcquirementWay|
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Satın Alma (Purchase)
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oda_DateOnWhichTheTransactionWasWillBeCompleted|
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03/04/2019
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oda_AcquisitionConditions|
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Peşin (Cash)
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oda_DetailedConditionsIfItIsATimedPayment|
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-
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oda_NominalValueOfSharesAcquired|
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EUR 45,000
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oda_PurchasePricePerShare|
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-
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oda_TotalPurchasingValue|
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USD 75,000,000
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oda_RatioOfNewSharesAcquiredToCapitalOfNoncurrentFinancialAsset|
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100%
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oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterTransaction|
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100%
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oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterTransaction|
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100%
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oda_RatioOfNoncurrentFinancialAssetAcquiredToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
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1.4%
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oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
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1.5%
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oda_EffectsOnCompanyOperations|
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It is expected to support our strategy to grow in the emerging markets.
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oda_DidTakeoverBidObligationArised|
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Hayır (No)
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oda_WillExemptionApplicationBeMadeIfTakeoverBidObligationArised|
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Hayır (No)
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oda_TitleNameSurnameOfCounterParty|
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Retail Holdings Asia B.V.
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oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
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Hayır (No)
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oda_RelationWithCounterPartyIfAny|
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There is no shareholding and/or managerial relationship.
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oda_AgreementSigningDateIfExists|
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22/03/2019
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oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
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Negotiation
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oda_DidValuationReportBePrepared|
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Düzenlenmedi (Not Prepared)
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oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
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Not an obligation.
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oda_DateAndNumberOfValuationReport|
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-
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oda_TitleOfValuationCompanyPreparedReport|
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-
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oda_ValueDeterminedInValuationReportIfExists|
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-
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oda_ReasonsIfTransactionWasntWillNotBePerformedInAccordanceWithValuationReport|
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-
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oda_ExplanationSection|
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oda_ExplanationTextBlock|
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Following our disclosure made on 22.03.2019, closing conditions regarding the acquisition of Retail Holdings Bhold B.V., including signing with Singer Group 10-year Distribution Agreement and extendable 10-year Brand Licence Agreement for Bangladesh market have been satisfied. In this regard, the share transfer has been completed following the payment of the share purchase price amounting to USD 75 million by our 100% subsidiary Ardutch B.V., incorporated in the Netherlands. The purchase price is subject to the price adjustment as per the net working capital and net debt levels of Retail Holdings Bhold B.V. and Singer Bangladesh Ltd. as per the balance sheets dated 31.03.2019. This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail. |
We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.