Related Companies
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[CIMSA]
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Related Funds
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[]
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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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01.10.2020
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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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14/10/2020
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oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForAcquisition|
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Yes
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oda_TitleOfNoncurrentFinancialAssetAcquired|
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Cimsa Sabanci Cement BV
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oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|
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Investing, trading, and distributing cement and construction materials
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oda_CapitalOfNoncurrentFinancialAsset|
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87,000,000 EUR
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oda_AcquirementWay|
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Kuruluşta Edinim (Establishment)
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oda_DateOnWhichTheTransactionWasWillBeCompleted|
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Upon the completion of registration procedures in the Netherlands
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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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52,200,000 EUR
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oda_PurchasePricePerShare|
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1 EUR
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oda_TotalPurchasingValue|
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52,200,000 EUR
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oda_RatioOfNewSharesAcquiredToCapitalOfNoncurrentFinancialAsset|
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60
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oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterTransaction|
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60
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oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterTransaction|
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60
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oda_RatioOfNoncurrentFinancialAssetAcquiredToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
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0.10
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oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
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0.81
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oda_EffectsOnCompanyOperations|
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It is expected to have a positive effect on consolidated financial statements once the incorporation and restructuring is completed
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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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-
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oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
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Hayır (No)
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oda_RelationWithCounterPartyIfAny|
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-
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oda_AgreementSigningDateIfExists|
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-
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oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
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Based on nominal value
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oda_DidValuationReportBePrepared|
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Düzenlenmedi (Not Prepared)
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oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
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Initial capital of CSC BV is determined based on nominal value of shares
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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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As a part of Sabancı Group's long-term strategy to become the leading player in global white cement trade, a decision has been made to merge the financial power of our Company and the operational capability of our subsidiary Çimsa Çimento Sanayi ve Ticaret A.Ş. (Çimsa) under one roof abroad, to create a more efficient and financially strong platform. Within the context of abovementioned purpose, our Board of Directors have resolved the followings in today's meeting: - To incorporate a company in the Netherlands under the trade name of Cimsa Sabanci Cement BV (CSC BV) with 87,000,000 EUR equity capital, in which our Company will be holding 60% of the total equity shares while the remaining 40% to be held by Çimsa, - To participate in CSC BV as incorporator and to inject 52,200,000 EUR amount of capital in consideration for 52,200,000 shares of CSC BV. Further developments will be made available to public. In contradiction between the Turkish and English versions of this public disclosure, 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.