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English
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oda_NoncurrentFinancialAssetSaleAbstract|
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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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09.12.2020
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oda_DelayedAnnouncementFlag|
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Hayır (No)
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oda_AnnouncementContentSection|
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oda_BoardDecisionDateForSale|
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08/12/2020
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oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForSale|
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Yes
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oda_TitleOfNoncurrentFinancialAssetSold|
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BİM Stores SARL
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oda_FieldOfActivityNoncurrentFinancialAssetSold|
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Food retail in the Kingdom of Morocco
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oda_CapitalOfNoncurrentFinancialAssetSold|
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MAD 246.824.000
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oda_DateOnWhichRheTransactionWasWillBeCompleted|
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04.05.2021
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oda_SalesConditions|
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Peşin (Cash)
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oda_NominalValueOfSharesSold|
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MAD 86.388.000
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oda_SalesPricePerShare|
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USD 963.09 per share (1 share = 1,000 MAD nominal)
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oda_TotalSalesValue|
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USD 83,200,000 + post-closing adjustments (if any)
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oda_RatioOfSharesSoldToCapitalOfNoncurrentFinancialAsset|
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35%
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oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterSalesTransaction|
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65%
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oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterSalesTransaction|
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65%
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oda_RatioOfNoncurrentFinancialAssetSoldToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
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2.9%
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oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
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1.2%
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oda_EffectsOnCompanyOperations|
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To maintain and develop the Company's current growth trend in the Kingdom of Morocco and support localization in that region with investors specialized in the region
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oda_ProfitLossArisedAfterTransaction|
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TRY 587.000.000 per IFRS records (will be accounted in equity per IFRS financials.)
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oda_HowWillSalesProfitBeUsedIfExists|
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-
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oda_BoardDecisionDateForUseOfSalesProfitIfExists|
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-
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oda_TitleNameSurnameOfCounterPartyBought|
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Blue Investment Holdings (a special purpose vehicle established by the funds advised by the Helios Investment Partners LLP)
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oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
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Hayır (No)
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oda_RelationWithCounterPartyIfAny|http://www.xbrl.org/2003/role/verboseLabel
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None
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oda_AgreementSigningDateIfExists|
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09/12/2020
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oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
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Per negotiations with the buyer
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oda_DidValuationReportBePrepared|
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Düzenlenmedi (Not Prepared)
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oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
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Not required under the law
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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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In the disclosure made on 09.12.2020, it was disclosed that, we, BİM Birleşik Mağazalar A.Ş., entered into a share sale and purchase agreement with Blue Investment Holding , a special purpose vehicle established by the funds advised by Helios Investment Partners LLP, a leading private equity fund manager operating in the Africa region, in relation to sale of the shares representing 35% of the share capital of BİM Stores SARL (BIM Morocco) to them and the sales transaction would be completed after certain conditions were met.
Following the fulfillment of the relevant transaction conditions, the sale of the mentioned shares was completed on 4 May 2021 with a total consideration of USD 83,200,000. The consideration may be subject to technical adjustments post-closing.
With the sale, we aim to maintain and develop BİM Stores SARL's current growth trend in the Kingdom of Morocco and achieve localization in that region with investors specialized in the Africa region to create further value.
In the event of a contradiction between the Turkish and English versions of this public disclosure, 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.