[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
Related Companies
[]
Related Funds
[]
English
oda_NoncurrentAssetSaleAbstract|
Non-Current Asset Sale
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
-
oda_DelayedAnnouncementFlag|
Postponed Notification Flag
Hayır (No)
oda_AnnouncementContentSection|
Announcement Content
oda_NatureOfNonCurrentAssetSold|
Nature of Non Current Asset Sold
Factory (including land tenure, buildings and machinery / equipment, molds)
oda_LocationAndAreaOfNoncurrentAssetSold|
Location and Area of Non-current Asset Sold
47,240 square meters in Changzhou, Jiangsu, People's Republic of China.
oda_BoardDecisionDateForSale|
Board Decision Date for Sale
30/09/2020
oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForSale|
Were Majority of Independent Board Members' Approved the Board Decision for Sale?
Yes
oda_TotalSalesValue|http://www.xbrl.org/2003/role/verboseLabel
Total Sales Value
CNY 112,553,392 (approximately TRY 128 million) excluding VAT
oda_RatioOfTransactionAmountToValueOfCompanyBasedOnTheMathematicalWeightedAverageOnADailyBasisSixMonthsPriorToDateOfBoardDecision|
Ratio of Transaction Amount to Value of Company Based on the Mathematical Weighted Average on a Daily Basis, Six Months Prior to Date of Board Decision (%)
1.0%
oda_RatioOfSalesPriceToPaidInCapitalOfCompany|
Ratio of Sales Price to Paid-in Capital of Company (%)
19.0%
oda_RatioOfSalesValueToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Sales Value to Total Assets in Latest Disclosed Financial Statements of Company (%)
0.3%
oda_RatioOfSalesValueToTotalNetNoncurrentAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Sales Value to Total Net Non-current Assets in Latest Disclosed Financial Statements of Company (%)
2.0%
oda_RatioOfValueOfNoncurrentAssetToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Value of Non-current Asset to Total Assets in Latest Disclosed Financial Statements of Company (%)
0.4%
oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)
0.4%
oda_SalesConditions|
Sales Conditions
Vadeli (Timed)
oda_DateOnWhichRheTransactionWasWillBeCompleted|
Date on which the Transaction was/will be Completed
It is foreseen that the transaction will be completed by fulfilling the closing conditions within 3 months from the signing of the Asset Transfer Agreement.
oda_AimOfSaleAndEffectsOnCompanyOperations|
Aim of Sale and Effects on Company Operations
In order to optimize capacity distribution, it was decided to sell the washing machine production factory established in China, considering that sufficient product supply is provided for sales in the region. The sale is expected to have a positive impact on our activities due to cost advantage.
oda_ProfitLossArisedAfterSaleOfNoncurrentAsset|
Profit / Loss Arised After Sale of Non-Current Asset
Due to the sale to be realized by our subsidiary, approximately TRY 27 million of non-current asset sales loss will be recorded in our Company's consolidated financial statements.
oda_HowWillSalesProfitBeUsedIfExists|
How will Sales Profit be Used if Exists?
-
oda_BoardDecisionDateForUseOfSalesProfitIfExists|
Board Decision Date for Use of Sales Profit if Exists
-
oda_CounterParty|
Counter Party
Jiangsu Konka Smart Home Appliances Co. Ltd.
oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
Is Counter Party a Related Party According to CMB Regulations?
Hayır (No)
oda_NatureofRelationWithCounterParty|
Nature of Relation with Counter Party
-
oda_AgreementSigningDateIfExists|
Agreement Signing Date if Exists
30/09/2020
oda_ExercisePriceOfRetirementRightRelatingToSignificantTransaction|
Exercise Price of Retirement Right Relating to Significant Transaction
-
oda_ValueDeterminationMethodOfNoncurrentAsset|
Value Determination Method of Non-Current Asset
It was determined by negotiation between the parties.
oda_DidValuationReportBePrepared|
Did Valuation Report be Prepared?
Düzenlenmedi (Not Prepared)
oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
Reason for not Preparing Valuation Report if it was not Prepared
There is no obligation under the regulation.
oda_DateAndNumberOfValuationReport|
Date and Number of Valuation Report
-
oda_TitleOfValuationCompanyPreparedReport|
Title of Valuation Company Prepared Report
-
oda_ValueDeterminedInValuationReportIfExists|
Value Determined in Valuation Report if Exists
-
oda_ReasonsIfTransactionWasntWillNotBePerformedInAccordanceWithValuationReport|
Reasons if Transaction wasn't/will not be performed in Accordance with Valuation Report
-
oda_ExplanationSection|
Explanations
oda_ExplanationTextBlock|

Beko Electrical Appliances Co. Ltd, which we indirectly own 100% of its capital through our subsidiary Ardutch B.V., has signed an Asset Transfer Agreement on September 30, 2020 for the transfer of the production facility, the right to use of the land where the facility is located and the fixed assets within the production facility in Changzhou city of Jiangsu Province of the People's Republic of China to Jiangsu Konka Smart Home Appliances Co. Ltd. at a value of CNY 112,553,392 (approximately TRY 128 million) excluding VAT . It is foreseen that the sale will be completed within 3 months from the signing of the agreement, following the fulfilment of the closing conditions. CNY 122,380,000 including VAT is to be collected as CNY 105,000,000 on the closing date , as CNY 8,690,000 one year later, and as CNY 8,690,000 two years later.

The People's Republic of China is one of the strategic markets for Arçelik that is already established and has ongoing growth prospects. Beko Electrical Appliances Co. Ltd., which has been carrying out washing machine production, export and domestic market sales operations in China since 2009, will continue its sales and marketing activities under its Beko Electrical Appliances Co. Ltd. after the transaction. The company will continue to sell the products imported by the group from its factories in other countries and procured in cooperation with local producers in China. In this context, it has also been committed by Arçelik or its subsidiaries to supply products under certain conditions from the buyer for 2 years.

This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.