[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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English
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Material Event Disclosure General
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Update Notification Flag
Hayır (No)
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Correction Notification Flag
Hayır (No)
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Date Of The Previous Notification About The Same Subject
-
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Postponed Notification Flag
Evet (Yes)
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Announcement Content
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Explanations
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Negotiations have been initiated between Borusan Mannesmann's fully owned subsidiary Borusan Mannesmann Pipe US Inc., a company incorporated in the U.S.A. and EUROPIPE GmbH, for the acquisition of all issued and outstanding shares of capital stock of Berg EUROPIPE Holding Corp., a subsidiary of Europipe GmbH incorporated in the U.S.A. operating in steel pipe production. In this context, a non-binding letter of intent was signed between the parties on March 2nd, 2023 and the necessary negotiations for a binding agreement between the parties are ongoing. In the meantime, the necessary financial and legal studies within the scope of the process and the required procedures before the regulatory authorities are being carried out. Further developments on this event will be disclosed to the public in due time.

Borusan Mannesmann has decided to postpone the announcement of the start of negotiations with the Board of Directors resolution dated June 2nd, 2022 and numbered 16 in accordance with Article 6 of the Communiqué on Material Events No. II-15.1 in order to prevent damage to the legitimate interests of Borusan Mannesmann and misleading our investors, due to the uncertainties in the structure and conditions of the transaction and the lack of materialization in the will of the parties regarding the transaction. However, due to the speculations occurred in Türkiye and the U.S.A. regarding the transaction, in accordance with paragraph 2 of Article 9 of the Communiqué on Material Events numbered II-15.1, it has been considered that the reason for the postponement has disappeared and it is necessary to make a public disclosure.

This English translation of the disclosure is annexed to the Turkish version and in case of any discrepancy in the texts of the disclosures, the Turkish version shall prevail.