[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
17.05.2021, 30.06.2021
oda_DelayedAnnouncementFlag|
Postponed Notification Flag
Hayır (No)
oda_AnnouncementContentSection|
Announcement Content
oda_BoardDecisionDateForAcquisition|
Board Decision Date for Acquisition
17/05/2021
oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForAcquisition|
Were Majority of Independent Board Members' Approved the Board Decision for Acquisition
Yes
oda_TitleOfNoncurrentFinancialAssetAcquired|
Title of Non-current Financial Asset Acquired
Whirlpool Beyaz Eşya Sanayi ve Ticaret Anonim Şirketi (current title Arçelik Üretim ve Teknoloji A.Ş.)
oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|
Field of Activity of Non-current Financial Asset whose Shares were being Acquired
Manufacturing and sales (export) of products to Whirlpool Corporation Group (Parent Company) subsidiaries and third parties.
oda_CapitalOfNoncurrentFinancialAsset|
Capital of Noncurrent Financial Asset
753.801.427 TL
oda_AcquirementWay|
Acquirement Way
Satın Alma (Purchase)
oda_DateOnWhichTheTransactionWasWillBeCompleted|
Date on which the Transaction was/will be Completed
30.06.2021
oda_AcquisitionConditions|
Acquisition Conditions
Peşin (Cash)
oda_DetailedConditionsIfItIsATimedPayment|
Detailed Conditions if it is a Timed Payment
-
oda_NominalValueOfSharesAcquired|
Nominal Value of Shares Acquired
753.801.427 TL
oda_PurchasePricePerShare|
Purchase Price Per Share
1,08 TL (0,1001 EUR) (@ 10,83 EUR/TRY)
oda_TotalPurchasingValue|
Total Purchasing Value
The transaction price for 100% of the shares was determined as EUR 78.3 million and the payment was completed at share transfer date. Following the completion of the closing financials audit, the purchase amount was recalculated according to the changes in assets, excluding fixed assets, considering the audited balance sheets dated 30.06.2021. Accordingly, an additional payment of EUR 480,000 was transferred to Whirlpool Global Holdings S.A.R.L. as a closing price adjustment.
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 (%)
1,3%
oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)
2,0%
oda_EffectsOnCompanyOperations|
Effects on Company Operations
Approximately 20% of increase is expected in the total cooling and washing machine production capacity
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
Whirlpool Global Holdings S.A.R.L.
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
17/05/2021
oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
Value Determination Method of Non-current Financial Asset
Negotiation Method
oda_DidValuationReportBePrepared|
Did Valuation Report be Prepared?
Düzenlenmedi (Not Prepared)
oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
Reason for not Preparing Valuation Report if it was not Prepared
Preparation of a valuation report is not mandatory.
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|
Following our disclosure made on 30.06.2021, the closing audit of financial statements dated 30.06.2021 have been completed after incorporation of Whirlpool Beyaz Eşya Sanayi ve Ticaret Anonim Şirketi ("Company") (current title Arçelik Üretim ve Teknoloji A.Ş.), a wholly owned subsidiary of the white goods manufacturer Whirlpool Global Holdings S.A.R.L ("Whirlpool Global") which manufactures Whirlpool branded refrigeration units and washing machines in Turkey. In addition to the purchase price of 78.3 million Euro which is calculated, considering 31.12.2020 audited financial statements and paid full in cash to Whirlpool Global, an additional payment of €480,000 was made to Whirlpool Global Holdings S.A.R.L. according to the changes in assets, excluding fixed assets, considering the audited closing balance sheets dated 30.06.2021.

Furthermore, tax assets of approximately 9 million Euros, which is calculates considering the exchange rate as of the closing date, were not taken into account when calculating the purchase price. Tax asset amount that can be collected after the closing date until 31 December 2023 will be paid to Whirlpool Global by Arçelik A.Ş.

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.