[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
Related Companies
[]
Related Funds
[]
English
oda_NoncurrentFinancialAssetAcquisitionAbstract|
Noncurrent Financial Asset Acquisition
oda_UpdateAnnouncementFlag|
Update Notification Flag
Hayır (No)
oda_CorrectionAnnouncementFlag|
Correction Notification Flag
Hayır (No)
oda_DateOfThePreviousNotificationAboutTheSameSubject|
Date Of The Previous Notification About The Same Subject
18/07/2023
oda_DelayedAnnouncementFlag|
Postponed Notification Flag
Hayır (No)
oda_AnnouncementContentSection|
Announcement Content
oda_BoardDecisionDateForAcquisition|
Board Decision Date for Acquisition
18/07/2023
oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForAcquisition|
Were Majority of Independent Board Members' Approved the Board Decision for Acquisition
Yes
oda_TitleOfNoncurrentFinancialAssetAcquired|
Title of Non-current Financial Asset Acquired
FIRATCAN İNŞAAT TİCARET VE TURİZM A.Ş.
oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|
Field of Activity of Non-current Financial Asset whose Shares were being Acquired
Leasing the Söğütlüçeşme train station in Kadıköy, Istanbul for the High-Speed Train Station project within the scope of the Lease Agreement for Areas Involving Construction signed with TCDD for a 2-year permit - license, 2-year construction period and for operation until 2051 and to carry out the works in the articles of association of the company
oda_CapitalOfNoncurrentFinancialAsset|
Capital of Noncurrent Financial Asset
TL 6,000,000
oda_AcquirementWay|
Acquirement Way
Satın Alma (Purchase)
oda_DateOnWhichTheTransactionWasWillBeCompleted|
Date on which the Transaction was/will be Completed
18/07/2023
oda_AcquisitionConditions|
Acquisition Conditions
Vadeli (Timed)
oda_DetailedConditionsIfItIsATimedPayment|
Detailed Conditions if it is a Timed Payment
50% cash, 50% on credit (Timed part will be paid at the end of 2023)
oda_NominalValueOfSharesAcquired|
Nominal Value of Shares Acquired
2,940,000
oda_PurchasePricePerShare|
Purchase Price Per Share
-
oda_TotalPurchasingValue|
Total Purchasing Value
10 million EUR equivalent in TL
oda_RatioOfNewSharesAcquiredToCapitalOfNoncurrentFinancialAsset|
Ratio of New Shares Acquired to Capital of Non-current Financial Asset (%)
49%
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 (%)
2%
oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)
57%
oda_EffectsOnCompanyOperations|
Effects on Company Operations
The remaining 49% of the shares of Fıratcan, the owner of the Söğütlüçeşme Project, in which Akfen REIT already holds the majority share (51%), will be acquired and the Company will be fully owned. Thus, the project committed by the Company will be realized and all of the income to be generated will belong to Akfen REIT and will contribute to the liquidity of Akfen REIT.
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
Sefa Özçelik
oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
Is Counter Party a Related Party According to CMB Regulations?
Hayır (No)
oda_RelationWithCounterPartyIfAny|
Relation with Counter Party if any
-
oda_AgreementSigningDateIfExists|
Agreement Signing Date if Exists
18/07/2023
oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
Value Determination Method of Non-current Financial Asset
Net asset value method (summation method)
oda_DidValuationReportBePrepared|
Did Valuation Report be Prepared?
Düzenlendi (Prepared)
oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
Reason for not Preparing Valuation Report if it was not Prepared
Düzenlendi/(Prepared)
oda_DateAndNumberOfValuationReport|
Date and Number of Valuation Report
17-07-23
oda_TitleOfValuationCompanyPreparedReport|
Title of Valuation Company Prepared Report
Karar Bağımsız Denetim Ve Danışmanlık A.Ş.
oda_ValueDeterminedInValuationReportIfExists|
Value Determined in Valuation Report if Exists
EUR 22.228.047 for 100% of the company (TL 625.808.433 at 30.06.2023 exchange rate). The amount corresponding to 49% is EUR 10.891.743 (TL 306.646.133 at 30.06.2023 exchange rate).
oda_ReasonsIfTransactionWasntWillNotBePerformedInAccordanceWithValuationReport|
Reasons if Transaction wasn't/will not be performed in Accordance with Valuation Report
The transaction was realized in accordance with the results of the valuation report and was purchased at a discount of 8% from the value in the valuation report.
oda_ExplanationSection|
Explanations
oda_ExplanationTextBlock|
The remaining 49% shares of Fıratcan İnşaat Ticaret ve Turizm A.Ş., the owner of Söğütlüçeşme train station High Speed Train Station project in Kadıköy, Istanbul, which 51% shares were acquired on 31.03.2021, were purchased for EUR 10 million equivalent to TL with a price 8% below the value determined in the valuation report dated 17.07.2023 prepared within the scope of CMB legislation. The acquired Company is committed to TCDD's Söğütlüçeşme High Speed Train Station Project, which will be completed in 2024 and the commercial areas will be operated until 2051.