[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
17.01.2023
oda_DelayedAnnouncementFlag|
Postponed Notification Flag
Hayır (No)
oda_AnnouncementContentSection|
Announcement Content
oda_BoardDecisionDateForAcquisition|
Board Decision Date for Acquisition
16/01/2023
oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForAcquisition|
Were Majority of Independent Board Members' Approved the Board Decision for Acquisition
Yes
oda_TitleOfNoncurrentFinancialAssetAcquired|
Title of Non-current Financial Asset Acquired
Two (2) subsidiaries in the Middle East and North Africa (MENA Region) named Whirlpool MEEA DMCC and Whirlpool Maroc S.à r.l.
oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|
Field of Activity of Non-current Financial Asset whose Shares were being Acquired
Sales and marketing of white goods in MENA region.
oda_CapitalOfNoncurrentFinancialAsset|
Capital of Noncurrent Financial Asset
The issued capital of Whirlpool MEEA DMCC and Whirlpool Maroc S.à r.l. is AED 50,000 (United Arab Emirates Dirham) and MAD 71,500,000 (Moroccan Dirham) respectively.
oda_AcquirementWay|
Acquirement Way
Satın Alma (Purchase)
oda_DateOnWhichTheTransactionWasWillBeCompleted|
Date on which the Transaction was/will be Completed
It is anticipated that the MENA transactions will be completed in the second half of 2023, with the establishment of the new European appliance company under the control of Arçelik, with Whirlpool having a minority interest.
oda_AcquisitionConditions|
Acquisition Conditions
Peşin (Cash)
oda_DetailedConditionsIfItIsATimedPayment|
Detailed Conditions if it is a Timed Payment
-
oda_NominalValueOfSharesAcquired|
Nominal Value of Shares Acquired
The nominal value of shares in the two (2) subsidiaries to be purchased in MENA region is AED 50,000 and MAD 71,500,000, respectively.
oda_PurchasePricePerShare|
Purchase Price Per Share
-
oda_TotalPurchasingValue|
Total Purchasing Value
Acquisition value of MENA transaction is expected to be as 20 million Euro (Subject to adjustment for net indebtedness and net working capital, which will be determined on the closing financial statements.)
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 (%)
Calculated ratio is below 0.5%* (subject to closing adjustment) *calculated on the basis of the financial statements dated 31.03.2023, according to the average of the CBT buying and selling currency rates dated 21.06.2023.
oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)
Calculated ratio is below 0.5%* (subject to closing adjustment) *calculated on the basis of the financial statements dated 31.12.2022, according to the average of the CBT buying and selling currency rates dated 21.06.2023.
oda_EffectsOnCompanyOperations|
Effects on Company Operations
Expected to contribute our growth targets in MENA region.
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 EMEA Holdings LLC and Whirlpool France SAS
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
22/06/2023
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
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|

The Share Purchase Agreement has been signed regarding Beko BV's (former title is Ardutch BV) acquisition of all shares of Whirlpool's two subsidiaries (titled Whirlpool MEEA DMCC and Whirlpool Maroc S.à r.l. ) established in the United Arab Emirates and Morocco and operating in the Middle East and North Africa ("MENA") region, within the frame of Arçelik's disclosures dated January 17, 2023 and April 19, 2023.

The closing of the transaction of MENA within the scope of the relevant contract is subject to the completion of certain closing conditions, including completion of the closing conditions of the Contribution Agreement signed by Whirlpool Corporation and Arçelik as stated in the disclosure dated 17.01.2023, which aims to establishment of the new European appliance company under the control of Arçelik, with Whirlpool having a minority interest.

Further material developments will be shared with our investors.

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.