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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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Evet (Yes)
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oda_AnnouncementContentSection|
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oda_BoardDecisionDateForAcquisition|
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14/12/2021
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oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForAcquisition|
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Yes
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oda_TitleOfNoncurrentFinancialAssetAcquired|
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Arvento M2M Elektronik Sistemler Sanayi Ticaret A.Ş.
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oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|
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Developing and producing various mobile systems, especially vehicle tracking and fleet management systems, object-person tracking systems, boat tracking systems and M2M solutions
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oda_CapitalOfNoncurrentFinancialAsset|
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7.498.000 TL
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oda_AcquirementWay|
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Satın Alma (Purchase)
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oda_DateOnWhichTheTransactionWasWillBeCompleted|
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Subsequent to fullfilment of legal permits and satisfaction of agreed conditions
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oda_AcquisitionConditions|
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Peşin (Cash)
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oda_DetailedConditionsIfItIsATimedPayment|
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No
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oda_NominalValueOfSharesAcquired|
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6.664.972 TL
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oda_PurchasePricePerShare|
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43,73 TL (**)
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oda_TotalPurchasingValue|
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291.469.028,3 TL (**)
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oda_RatioOfNewSharesAcquiredToCapitalOfNoncurrentFinancialAsset|
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88,89%
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oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterTransaction|
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88,89%
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oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterTransaction|
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88,89%
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oda_RatioOfNoncurrentFinancialAssetAcquiredToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
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3,77% (**)
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oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
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6,88% (**)
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oda_EffectsOnCompanyOperations|
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Brisa will integrate the Arvento fleet management platform and telematics network into its existing systems in order to become a sustainable mobility solutions provider and move its strong tyre supply and service network forward.
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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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Özer Hıncal and Track Holdings S.A.R.L.
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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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14/12/2021
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oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
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Based on Negotiations
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oda_DidValuationReportBePrepared|
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Düzenlenmedi (Not Prepared)
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oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
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No regulatory requirement since it is not a related party transaction.
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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 line with the Company's target of growing with pioneering services beyond tyres and being the pioneer of mobility in Turkey, a Share Purchase Agreement dated 14.12.2021 was signed by and among Brisa, and Özer Hıncal and Track Holdings S.A.R.L. ("Sellers") with regard to the acquisition of Arvento M2M Electronic Systems Industry and Trade Inc. (Arvento) shares representing 88.89% of total share capital by Brisa for a consideration of TRY 291,469,028.3. (*)
The completion of the acquisition remains subject to fulfillment of other conditions set forth in the Agreement, including but not limited to obtaining the necessary permits and approvals, and it is contemplated that this entire process will be completed by mid-2022 at the latest. On the other hand, in accordance with the Agreement, the transfer price will be subject to some adjustments, taking into account the net debt and working capital levels of Arvento at the closing date, and the final acquisition price will be disclosed to public, once determined.
Detailed information about Arvento, which develops and manufactures various mobile systems, especially vehicle tracking and fleet management systems, object-person tracking systems, boat tracking systems and M2M solutions, together with its subsidiaries Arvento Mobile Systems Inc., Arvento Corporate Services and Consulting Inc., Arvento Mobile Systems Services Company LLC and Arvento Mobile Systems GmbH, can be reached at www.arvento.com.
Brisa will integrate the Arvento fleet management platform and telematics network into its existing systems in order to become a sustainable mobility solutions provider and move its strong tyre supply and service network forward. This acquisition will be a leverage to transform Brisa's existing tyre-focused business portfolio into a mobility solutions business.
Further developments will be communicated in due course.
(*) The announcement regarding the talks for the contemplated acquisition was deferred until the signing of Share Purchase Agreement by and among Brisa and the Sellers, so as to inform our investors in full and complete manner, and to ensure sound evaluation on the subject matter.
(**) The given amounts and ratios are for referenece only, and the final values will be calculated and announced later after adjusting for the net debt and working capital levels of Arvento at the closing date.
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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.