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English
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oda_NoncurrentFinancialAssetAcquisitionAbstract|
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oda_UpdateAnnouncementFlag|
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Hayır (No)
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oda_CorrectionAnnouncementFlag|
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Hayır (No)
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oda_DateOfThePreviousNotificationAboutTheSameSubject|
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-
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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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21/10/2022
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oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForAcquisition|
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Yes
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oda_TitleOfNoncurrentFinancialAssetAcquired|
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Uçak Koltuk Üretimi San. ve Tic. A.Ş
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oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|
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Design and manufacture of aircraft seats and their parts
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oda_CapitalOfNoncurrentFinancialAsset|
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29.700.000 TL
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oda_AcquirementWay|
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Satın Alma (Purchase)
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oda_DateOnWhichTheTransactionWasWillBeCompleted|
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Subject to the approval of the relevant local and foreign regulatory authorities. It is targeted to be completed in the fourth 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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14.850.000 TL
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oda_PurchasePricePerShare|
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-
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oda_TotalPurchasingValue|
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-
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oda_RatioOfNewSharesAcquiredToCapitalOfNoncurrentFinancialAsset|
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50%
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oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterTransaction|
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100% (Directly 95%, Indirectly 5%)
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oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterTransaction|
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100% (Directly 95%, Indirectly 5%)
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oda_RatioOfNoncurrentFinancialAssetAcquiredToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
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Less than 1%
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oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
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Less than 1%
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oda_EffectsOnCompanyOperations|
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Strengthening Turkish Airlines' aircraft seats manufacturing and procurement activities
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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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Kibar Holding A.Ş.
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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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27/10/2022
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oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
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It was determined by bargaining between the parties.
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oda_DidValuationReportBePrepared|
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Düzenlendi (Prepared)
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oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
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-
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oda_DateAndNumberOfValuationReport|
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26/10/2022
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oda_TitleOfValuationCompanyPreparedReport|
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DRT Kurumsal Finans Danışmanlık Hizmetleri A.Ş. (Deloitte)
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oda_ValueDeterminedInValuationReportIfExists|
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-
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oda_ReasonsIfTransactionWasntWillNotBePerformedInAccordanceWithValuationReport|
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In addition to the capital investments and expenditures Kibar Holding A.Ş has made so far, the goodwill value has been attributed by Turkish Airlines for the acquisition price due to; know-how brought by Kibar Holding A.Ş., the time value of the investments, expected synergy from the merger, and the reward for the strong shareholding structure.
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oda_ExplanationSection|
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oda_ExplanationTextBlock|
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Following our material event disclosure dated 04/11/2022 within the scope of merging our cabin interior areas and products manufacturing subsidiaries, Our Incorporation has decided to acquire %50 shares of our subsidiary Uçak Koltuk Üretimi San. ve Tic. A.Ş. ("TSI"), currently owns %50 shares directly and indirectly, from Kibar Holding A.Ş, and signed a share purchase agreement for the transfer of the remaining %50 shares in TSI. An application to the Turkish Competition Authority will be made in the upcoming days.
Parties target the completion date of the transaction within the fourth quarter of 2022 and it is subject to closing conditions being met including approval from regulatory authorities.
The Board resolution pertaining to the approval of the agreement was taken unanimously.
Any material developments with respect to this disclosure will be further shared with the public.
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.
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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.