[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
Related Companies
[CIMSA]
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
23/10/2023
oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForSale|
Were Majority of Independent Board Members' Approved the Board Decision for Sale?
Yes
oda_TitleOfNoncurrentFinancialAssetSold|
Title of Non-current Financial Asset Sold
Sabanci Building Solutions BV
oda_FieldOfActivityNoncurrentFinancialAssetSold|
Field of Activity of Non-current Financial Asset Sold
Global investments in building materials
oda_CapitalOfNoncurrentFinancialAssetSold|
Capital of Non-current Financial Asset Sold
EUR 187,000,000
oda_DateOnWhichRheTransactionWasWillBeCompleted|
Date on which the Transaction was/will be Completed
Following the completion of necessary legal procedures
oda_SalesConditions|
Sales Conditions
Peşin (Cash)
oda_NominalValueOfSharesSold|
Nominal Value of Shares Sold
EUR 18,887,000
oda_SalesPricePerShare|
Sales Price Per Share
EUR 1.34
oda_TotalSalesValue|
Total Sales Value
EUR 25,280,098
oda_RatioOfSharesSoldToCapitalOfNoncurrentFinancialAsset|
Ratio of Shares Sold to Capital of Non-current Financial Asset (%)
10.1%
oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterSalesTransaction|
Total Ratio of Shares Owned in Capital of Non-current Financial Asset After Sales Transaction (%)
49.9%
oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterSalesTransaction|
Total Voting Right Ratio Owned in Non-current Financial Asset After Sales Transaction (%)
49.9%
oda_RatioOfNoncurrentFinancialAssetSoldToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Non-current Financial Asset Sold to Total Assets in Latest Disclosed Financial Statements of Company (%)
0.016%
oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)
0.19%
oda_EffectsOnCompanyOperations|
Effects on Company Operations
Holding-only cash will increase and SBS, which is now directly consolidated in the financial statements of Sabancı Holding, will continue to be consolidated indirectly through Çimsa after the transfer.
oda_ProfitLossArisedAfterTransaction|
Profit / Loss Arised After Transaction
There will be no consolidated profit/loss effect since it is an under common control (intra-Group) transaction.
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
Çimsa Çimento Sanayi ve Ticaret A.Ş.
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
Subsidiary
oda_AgreementSigningDateIfExists|
Agreement Signing Date if Exists
23/10/2023
oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
Value Determination Method of Non-current Financial Asset
Based on an independent 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
October 23, 2023
oda_TitleOfValuationCompanyPreparedReport|
Title of Valuation Company Prepared Report
Ernst Young Kurumsal Finansman Danışmanlık A.Ş.
oda_ValueDeterminedInValuationReportIfExists|
Value Determined in Valuation Report if Exists
EUR 25,280,098
oda_ReasonsIfTransactionWasntWillNotBePerformedInAccordanceWithValuationReport|
Reasons if Transaction wasn't/will not be performed in Accordance with Valuation Report
The transaction value is determined in line with the independent valuation report.
oda_ExplanationSection|
Explanations
oda_ExplanationTextBlock|
By taking into account the reduced need of Sabancı Holding's financial support for the existing and ongoing investments of Sabanci Building Solutions BV (SBS) as well as the strengthened financial position of Çimsa Çimento Sanayi ve Ticaret A.Ş. (Çimsa), for the purposes of having global building materials investments concentrated under the roof of SBS consolidated and managed by Çimsa with an increased operational efficiency, the Board of Directors of Sabancı Holding has resolved the followings in its meeting held today:

- 18,887,000 shares representing 10.1% of the share capital of SBS, in which Sabancı Holding currently holds 60% whereas the remaining 40% is being held by Çimsa, shall be transferred to Çimsa, a subsidiary of Sabancı Holding;
- The transfer price shall be determined as EUR 25,280,098 based on an independent valuation report dated October 23, 2023 prepared by Ernst Young Kurumsal Finansman Danışmanlık A.Ş. within the framework of capital markets regulations;
- Çimsa shall be entitled to right to offer/purchase the remaining 93,313,000 shares representing 49.9% of the share capital of SBS that will be held by Sabancı Holding post the transfer;
- The management of Sabancı Holding shall be authorized to carry out all necessary works and transactions related to the share transfers and to sign the Share Purchase Agreement that will be executed between Sabancı Holding and Çimsa.

Further developments will be made available to public.

In case of a discrepancy between the Turkish and English versions of this public disclosure statement, Turkish version shall prevail.