[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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English
oda_NoncurrentFinancialAssetAcquisitionAbstract|
Noncurrent Financial Asset Acquisition
oda_UpdateAnnouncementFlag|
Update Notification Flag
Evet (Yes)
oda_CorrectionAnnouncementFlag|
Correction Notification Flag
Hayır (No)
oda_DateOfThePreviousNotificationAboutTheSameSubject|
Date Of The Previous Notification About The Same Subject
16/03/2023
oda_DelayedAnnouncementFlag|
Postponed Notification Flag
Hayır (No)
oda_AnnouncementContentSection|
Announcement Content
oda_BoardDecisionDateForAcquisition|
Board Decision Date for Acquisition
31/03/2023
oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForAcquisition|
Were Majority of Independent Board Members' Approved the Board Decision for Acquisition
Yes
oda_TitleOfNoncurrentFinancialAssetAcquired|
Title of Non-current Financial Asset Acquired
Berg EUROPIPE Holding Corp.
oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|
Field of Activity of Non-current Financial Asset whose Shares were being Acquired
Steel pipe production
oda_CapitalOfNoncurrentFinancialAsset|
Capital of Noncurrent Financial Asset
USD 16,452,779
oda_AcquirementWay|
Acquirement Way
Satın Alma (Purchase)
oda_DateOnWhichTheTransactionWasWillBeCompleted|
Date on which the Transaction was/will be Completed
13/04/2023
oda_AcquisitionConditions|
Acquisition Conditions
Vadeli (Timed)
oda_DetailedConditionsIfItIsATimedPayment|
Detailed Conditions if it is a Timed Payment
Three anniversary payment to be made: 1st year USD 20,000,000 / 2nd year USD 15,000,000 / 3rd year USD 15,000,000
oda_NominalValueOfSharesAcquired|
Nominal Value of Shares Acquired
50 shares / no nominal value per share
oda_PurchasePricePerShare|
Purchase Price Per Share
USD 3,241,890
oda_TotalPurchasingValue|
Total Purchasing Value
USD 162,094,493
oda_RatioOfNewSharesAcquiredToCapitalOfNoncurrentFinancialAsset|
Ratio of New Shares Acquired to Capital of Non-current Financial Asset (%)
%100
oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterTransaction|
Total Ratio of Shares Owned in Capital of Non-current Financial Asset After Transaction (%)
%100
oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterTransaction|
Total Voting Right Ratio Owned in Non-current Financial Asset After Transaction (%)
%100
oda_RatioOfNoncurrentFinancialAssetAcquiredToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Non-current Financial Asset Acquired to Total Assets in Latest Disclosed Financial Statements of Company (%)
%11.0
oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)
%12.1
oda_EffectsOnCompanyOperations|
Effects on Company Operations
It is expected that Borusan Mannesmann's operations in the US and its presence in global markets will be positively impacted.
oda_DidTakeoverBidObligationArised|
Did Takeover Bid Obligation Arised?
Hayır (No)
oda_WillExemptionApplicationBeMadeIfTakeoverBidObligationArised|
Will Exemption Application be Made, if Takeover Bid Obligation Arised?
Hayır (No)
oda_TitleNameSurnameOfCounterParty|
Title/ Name-Surname of Counter Party
EUROPIPE GmbH
oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
Is Counter Party a Related Party According to CMB Regulations?
Evet (Yes)
oda_RelationWithCounterPartyIfAny|
Relation with Counter Party if any
One of the counterparty's shareholders, Salzgitter Mannesmann GmbH, is an indirect shareholder of Borusan Mannesmann.
oda_AgreementSigningDateIfExists|
Agreement Signing Date if Exists
13/04/2023
oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
Value Determination Method of Non-current Financial Asset
The value was determined by negotiations in line with the results of the valuation report.
oda_DidValuationReportBePrepared|
Did Valuation Report be Prepared?
Düzenlendi (Prepared)
oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
Reason for not Preparing Valuation Report if it was not Prepared
-
oda_DateAndNumberOfValuationReport|
Date and Number of Valuation Report
30/03/2023
oda_TitleOfValuationCompanyPreparedReport|
Title of Valuation Company Prepared Report
PwC Yönetim Danışmanlığı A.Ş.
oda_ValueDeterminedInValuationReportIfExists|
Value Determined in Valuation Report if Exists
As of 31 December 2022, the share value is between USD 175,000,000 and USD 195,000,000.
oda_ReasonsIfTransactionWasntWillNotBePerformedInAccordanceWithValuationReport|
Reasons if Transaction wasn't/will not be performed in Accordance with Valuation Report
The purchase price was determined through negotiations in line with the results of the valuation report.
oda_ExplanationSection|
Explanations
oda_ExplanationTextBlock|

A previous material event disclosure was made on 16 March 2023, regarding the commencement of negotiations between Borusan Mannesman Pipe US Inc., a wholly owned subsidiary of Borusan Mannesmann located in the United States of America (USA), and EUROPIPE GmbH for the acquisition of the shares representing the entire capital of Berg EUROPIPE Holding Corp., a subsidiary of EUROPIPE GmbH operating in the field of steel pipe production in the USA.

Following the aforementioned material event disclosure, in order to further increase Borusan Mannesmann's presence in the global markets, the acquisition process has been finalized by obtaining all necessary permissions and executing a stock purchase agreement with EUROPIPE GmbH on 13 April 2023 to buy all shares representing the share capital of EUROPIPE Holding Corp., a company operating in Panama City and Mobile in USA in the field of steel pipe production, by Borusan Mannesman Pipe US Inc. Pursuant to the stock purchase agreement, total acquisition price is USD 162 million.

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.