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Hayır (No)
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Hayır (No)
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Within the scope of optimization efforts aimed at focusing activities under the Grundig brand of our company on more efficient regions, an exclusive license agreement has been signed between our subsidiary Grundig Multimedia AG, the owner of the Grundig brand, and the Hong Kong-based consumer electronics, home appliances, and HVAC company Changhong International Holding (HK) Limited ("Changhong") regarding activities conducted abroad under the Grundig brand, valid for 3 years from January 1, 2026. Under the License Agreement, Changhong will have the right to manufacture, sell, and provide after-sales services for selected product groups in the white goods excluding small domestic appliances HVAC, and consumer electronics categories, in Europe 1 , CIS 2 , and APAC 3 regions; and in China and Russia, for selected product groups including small domestic appliances, using the Grundig brand. The agreement which is based on royalty payments over sales, may be extended for 2 years under the same conditions upon mutual agreement of the parties. According to the agreement, during the transition period, Grundig Multimedia AG and its affiliates may continue production, distribution, sales, and after-sales services of Grundig-branded products for a limited period in certain markets; however, this period will end no later than December 31, 2026, in all markets for which exclusivity is granted under the agreement. This license agreement concerns Grundig-branded products outside Türkiye and our activities under the Grundig brand in Türkiye will continue as is. This statement has been translated into English for informational purposes. In the event of any discrepancy between the Turkish and the English versions, the Turkish version shall prevail. 1 Europe: Albania, Andorra, Austria, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus (South), Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Kosovo, Latvia, Lithuania, Luxembourg, Malta, Moldova, Montenegro, Netherlands, North Macedonia, Norway, Poland, Portugal, Romania, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, and the United Kingdom. 2 CIS: Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Turkmenistan, Uzbekistan. 3 APAC: Indonesia, China, Vietnam, Malaysia, Australia, Philippines, Singapore, Japan, South Korea, New Zealand, Myanmar, Thailand. |
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