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Related Companies
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English
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oda_MaterialEventDisclosureGeneralAbstract|
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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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23.05.2017
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oda_DelayedAnnouncementFlag|
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Hayır (No)
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oda_ExplanationSection|
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In our material event disclosure dated 23.05.2017, it has been stated that a company will be established to operate under the Voltas-Beko brand for the Indian market and the Company will commence operations on the date on which the conditions included in the Joint Venture Agreement are fulfilled and the parties have the right to terminate the agreement if the conditions precedents defined in the agreement cannot be fulfilled within 6 months from the agreement signing date.
The Company was established with the title "Voltbek Home Appliances Private Ltd.". Since the conditions precedents for closing in the Joint Venture Agreement have not been fulfilled yet and have taken longer than predicted, above mentioned termination right has been extended until 31 March 2018 with the Addendum to Joint Venture Agreement signed by the parties.
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