[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
Related Companies
[KCHOL]
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English
oda_MaterialEventDisclosureGeneralAbstract|
Material Event Disclosure General
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Update Notification Flag
Hayır (No)
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Correction Notification Flag
Hayır (No)
oda_DateOfThePreviousNotificationAboutTheSameSubject|
Date Of The Previous Notification About The Same Subject
28.10.2016, 19.12.2023
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Postponed Notification Flag
Hayır (No)
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Announcement Content
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Explanations
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In our material disclosure dated December 19, 2023, it was announced that the the Shareholders' Agreement governing the management and operations of our jointly controlled entity, Arçelik-LG Klima Sanayi ve Ticaret A.Ş. (Arçelik-LG), in which our company holds a 45% stake and our main shareholder Koç Holding A.Ş. holds a 5% stake, would be valid until December 31, 2024. It has been decided to extend the agreement, under the agreed commercial principles, until December 31, 2031.

As before, the agreement is based on a 50-50 split of management control between the Koç Group and LG Electronics. In the new partnership period, in addition to the currently produced Residential Air Conditioners (RAC) and certain Commercial Air Conditioner (CAC) models, Arçelik-LG will also start the production of VRF products for sale in Türkiye. Arçelik will have the exclusive right to sell LG-branded VRF category commercial products in the Turkish market in the coming period. Each of Arçelik and LG will have the right to sell all commercial products, except those in the VRF category, under their own brands in Türkiye.