[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
Related Companies
[KCHOL]
Related Funds
[]
English
oda_NoncurrentFinancialAssetSaleAbstract|
Non-Current Financial 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_BoardDecisionDateForSale|
Board Decision Date for Sale
30/11/2021
oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForSale|
Were Majority of Independent Board Members' Approved the Board Decision for Sale?
Yes
oda_TitleOfNoncurrentFinancialAssetSold|
Title of Non-current Financial Asset Sold
Wat Motor Sanayi ve Ticaret A.Ş.
oda_FieldOfActivityNoncurrentFinancialAssetSold|
Field of Activity of Non-current Financial Asset Sold
Engine Production and Sales
oda_CapitalOfNoncurrentFinancialAssetSold|
Capital of Non-current Financial Asset Sold
TRL 130,000,000
oda_DateOnWhichRheTransactionWasWillBeCompleted|
Date on which the Transaction was/will be Completed
30.11.2021
oda_SalesConditions|
Sales Conditions
Peşin (Cash)
oda_NominalValueOfSharesSold|
Nominal Value of Shares Sold
TRL 130,000,000
oda_SalesPricePerShare|
Sales Price Per Share
Approximately TRL 2.8 with current exchange rate
oda_TotalSalesValue|
Total Sales Value
The sale value has been determined as EUR 25.9 million for 100% of the shares.
oda_RatioOfSharesSoldToCapitalOfNoncurrentFinancialAsset|
Ratio of Shares Sold to Capital of Non-current Financial Asset (%)
100%
oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterSalesTransaction|
Total Ratio of Shares Owned in Capital of Non-current Financial Asset After Sales Transaction (%)
0%
oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterSalesTransaction|
Total Voting Right Ratio Owned in Non-current Financial Asset After Sales Transaction (%)
0%
oda_RatioOfNoncurrentFinancialAssetSoldToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Non-current Financial Asset Sold to Total Assets in Latest Disclosed Financial Statements of Company (%)
0.6%
oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)
0.9%
oda_EffectsOnCompanyOperations|
Effects on Company Operations
Since the field of activity of Wat Motor Sanayi ve Ticaret A.Ş. is not the main line of business of our Company, no significant impact is expected in the activities.
oda_ProfitLossArisedAfterTransaction|
Profit / Loss Arised After Transaction
According to the TFRS basis, profit before tax is expected to be approximately TRL 70.3 million.
oda_HowWillSalesProfitBeUsedIfExists|
How will Sales Profit be Used if Exists?
-
oda_BoardDecisionDateForUseOfSalesProfitIfExists|
Board Decision Date for Use of Sales Profit if Exists
-
oda_TitleNameSurnameOfCounterPartyBought|
Title/ Name-Surname of Counter Party Bought
Koç Investments B.V.
oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
Is Counter Party a Related Party According to CMB Regulations?
Evet (Yes)
oda_RelationWithCounterPartyIfAny|http://www.xbrl.org/2003/role/verboseLabel
Relation with Counter Party if any
55% share of Koç Investments B.V. belongs to Koç Holding A.Ş., one of our main shareholders, and 45% share belongs to Temel Ticaret ve Yatırım A.Ş.
oda_AgreementSigningDateIfExists|
Agreement Signing Date if Exists
30/11/2021
oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
Value Determination Method of Non-current Financial Asset
It was determined by the negotiation procedure considering 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
07.10.2021
oda_TitleOfValuationCompanyPreparedReport|
Title of Valuation Company Prepared Report
KPMG Yönetim Danışmanlığı A.Ş.
oda_ValueDeterminedInValuationReportIfExists|
Value Determined in Valuation Report if Exists
EUR 24.5 million – EUR 27.2 million
oda_ReasonsIfTransactionWasntWillNotBePerformedInAccordanceWithValuationReport|
Reasons if Transaction wasn't/will not be performed in Accordance with Valuation Report
The transaction amount corresponds to the results in the valuation report.
oda_ExplanationSection|
Explanations
oda_ExplanationTextBlock|

Wat Motor Sanayi ve Ticaret A.Ş. which operates in the field of production and sales of engine, engine components, reducers, power transmission equipment, servo systems, apart from the main activity of our company, was demerged as 100% owned subsidiary of Arçelik A.Ş. in 2018 as a result of a partial demerger. Considering the goal of Wat Motor Sanayi ve Ticaret A.Ş. to develop globally in its own sector and to keep our focus on our core businnesses, in line with the valuation report prepared by KPMG Yönetim Danışmanlığı A.Ş., it has been decided to sell all of our shares in WAT Motor Sanayi ve Ticaret A.Ş. with a price of EUR 25.9 million to Koç Investments B.V.which is located in the Netherlands. 55% share of Koç Investments B.V. belongs to Koç Holding A.Ş., one of our main shareholders, and 45% share belongs to Temel Ticaret ve Yatırım 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.