Related Companies
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[YKBNK]
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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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09/11/2021
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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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08/11/2021
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oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForAcquisition|
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Yes
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oda_TitleOfNoncurrentFinancialAssetAcquired|
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Yapı ve Kredi Bankası A.Ş. (YKB)
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oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|
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Banking
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oda_CapitalOfNoncurrentFinancialAsset|
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TL 8,447,051,284
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oda_AcquirementWay|
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Satın Alma (Purchase)
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oda_DateOnWhichTheTransactionWasWillBeCompleted|
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Transfer of shares (Closing), which is subject to obtaining necessary approvals from regulatory authorities in Turkey and abroad, is expected to be finalized in the first quarter of 2022
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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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TL 1,520,469,231
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oda_PurchasePricePerShare|
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For shares of a nominal value of 1 TL, TL 2.2980
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oda_TotalPurchasingValue|
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TL 3,494,038,293
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oda_RatioOfNewSharesAcquiredToCapitalOfNoncurrentFinancialAsset|
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18%
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oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterTransaction|
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27,02% directly
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oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterTransaction|
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27,02% directly
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oda_RatioOfNoncurrentFinancialAssetAcquiredToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
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0,5%
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oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
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1,9%
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oda_EffectsOnCompanyOperations|
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Koç Holding's stake in its subsidiary YKB will increase
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oda_DidTakeoverBidObligationArised|
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Evet (Yes)
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oda_WillExemptionApplicationBeMadeIfTakeoverBidObligationArised|
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Hayır (No)
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oda_TitleNameSurnameOfCounterParty|
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UniCredit S.p.A.
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oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
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Hayır (No)
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oda_RelationWithCounterPartyIfAny|
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UniCredit S.p.A. is not a related party.
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oda_AgreementSigningDateIfExists|
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08/11/2021
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oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
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Price was determined based on the Share Purchase Agreement dated 30.11.2019
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oda_DidValuationReportBePrepared|
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Düzenlenmedi (Not Prepared)
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oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
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Valuation report was not prepared as it is not required pursuant to the regulation
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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 publicly disclosed on 09.11.2021, after the purchase of 18% of Yapı ve Kredi Bankası A.Ş. (YKB) shares from UniCredit S.p.A subject to obtaining necessary approvals from regulatory authorities in Turkey and abroad, Koç Holding's direct and indirect shares in YKB will be above the 50% threshold defined in CMB's Comminique on Takeover Bids and accordingly a mandatory tender offer will be triggered for Koç Holding for the shares of other YKB shareholders. In this respect, an application was made to CMB for the approval of the mandatory tender offer that will be conducted upon closing, which will take place after the necessary approvals are obtained.
Material developments regarding the transaction will be disclosed to our investors.
This statement was 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.
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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.