[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
Related Companies
[]
Related Funds
[]
English
oda_NoncurrentFinancialAssetSaleAbstract|
Non-Current Financial Asset Sale
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
09.12.2020
oda_DelayedAnnouncementFlag|
Postponed Notification Flag
Hayır (No)
oda_AnnouncementContentSection|
Announcement Content
oda_BoardDecisionDateForSale|
Board Decision Date for Sale
08/12/2020
oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForSale|
Were Majority of Independent Board Members' Approved the Board Decision for Sale?
Yes
oda_TitleOfNoncurrentFinancialAssetSold|
Title of Non-current Financial Asset Sold
BİM Stores SARL
oda_FieldOfActivityNoncurrentFinancialAssetSold|
Field of Activity of Non-current Financial Asset Sold
Food retail in the Kingdom of Morocco
oda_CapitalOfNoncurrentFinancialAssetSold|
Capital of Non-current Financial Asset Sold
MAD 246.824.000
oda_DateOnWhichRheTransactionWasWillBeCompleted|
Date on which the Transaction was/will be Completed
04.05.2021
oda_SalesConditions|
Sales Conditions
Peşin (Cash)
oda_NominalValueOfSharesSold|
Nominal Value of Shares Sold
MAD 86.388.000
oda_SalesPricePerShare|
Sales Price Per Share
USD 963.09 per share (1 share = 1,000 MAD nominal)
oda_TotalSalesValue|
Total Sales Value
USD 83,200,000 + post-closing adjustments (if any)
oda_RatioOfSharesSoldToCapitalOfNoncurrentFinancialAsset|
Ratio of Shares Sold to Capital of Non-current Financial Asset (%)
35%
oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterSalesTransaction|
Total Ratio of Shares Owned in Capital of Non-current Financial Asset After Sales Transaction (%)
65%
oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterSalesTransaction|
Total Voting Right Ratio Owned in Non-current Financial Asset After Sales Transaction (%)
65%
oda_RatioOfNoncurrentFinancialAssetSoldToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Non-current Financial Asset Sold to Total Assets in Latest Disclosed Financial Statements of Company (%)
2.9%
oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)
1.2%
oda_EffectsOnCompanyOperations|
Effects on Company Operations
To maintain and develop the Company's current growth trend in the Kingdom of Morocco and support localization in that region with investors specialized in the region
oda_ProfitLossArisedAfterTransaction|
Profit / Loss Arised After Transaction
TRY 587.000.000 per IFRS records (will be accounted in equity per IFRS financials.)
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
Blue Investment Holdings (a special purpose vehicle established by the funds advised by the Helios Investment Partners LLP)
oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
Is Counter Party a Related Party According to CMB Regulations?
Hayır (No)
oda_RelationWithCounterPartyIfAny|http://www.xbrl.org/2003/role/verboseLabel
Relation with Counter Party if any
None
oda_AgreementSigningDateIfExists|
Agreement Signing Date if Exists
09/12/2020
oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
Value Determination Method of Non-current Financial Asset
Per negotiations with the buyer
oda_DidValuationReportBePrepared|
Did Valuation Report be Prepared?
Düzenlenmedi (Not Prepared)
oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
Reason for not Preparing Valuation Report if it was not Prepared
Not required under the law
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|
In the disclosure made on 09.12.2020, it was disclosed that, we, BİM Birleşik Mağazalar A.Ş., entered into a share sale and purchase agreement with Blue Investment Holding , a special purpose vehicle established by the funds advised by Helios Investment Partners LLP, a leading private equity fund manager operating in the Africa region, in relation to sale of the shares representing 35% of the share capital of BİM Stores SARL (BIM Morocco) to them and the sales transaction would be completed after certain conditions were met.

Following the fulfillment of the relevant transaction conditions, the sale of the mentioned shares was completed on 4 May 2021 with a total consideration of USD 83,200,000. The consideration may be subject to technical adjustments post-closing.

With the sale, we aim to maintain and develop BİM Stores SARL's current  growth trend in the Kingdom of Morocco and achieve localization in that region with  investors specialized in the Africa region to create further value.

In the event of a contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.