[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
Related Companies
[YKBNK]
Related Funds
[]
English
oda_NoncurrentFinancialAssetAcquisitionAbstract|
Noncurrent Financial Asset Acquisition
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_BoardDecisionDateForAcquisition|
Board Decision Date for Acquisition
08/11/2021
oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForAcquisition|
Were Majority of Independent Board Members' Approved the Board Decision for Acquisition
Yes
oda_TitleOfNoncurrentFinancialAssetAcquired|
Title of Non-current Financial Asset Acquired
Yapı ve Kredi Bankası A.Ş. (YKB)
oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|
Field of Activity of Non-current Financial Asset whose Shares were being Acquired
Banking
oda_CapitalOfNoncurrentFinancialAsset|
Capital of Noncurrent Financial Asset
TL 8.447.051.284
oda_AcquirementWay|
Acquirement Way
Satın Alma (Purchase)
oda_DateOnWhichTheTransactionWasWillBeCompleted|
Date on which the Transaction was/will be Completed
Transfer of shares (Closing), which is subject to obtaining necessary approvals from regulatory authorities in Turkey and abroad, is expected to be finalized in the first quarter of 2022.
oda_AcquisitionConditions|
Acquisition Conditions
Peşin (Cash)
oda_DetailedConditionsIfItIsATimedPayment|
Detailed Conditions if it is a Timed Payment
-
oda_NominalValueOfSharesAcquired|
Nominal Value of Shares Acquired
TL 1.520.469.231
oda_PurchasePricePerShare|
Purchase Price Per Share
For shares of a nominal value of 1 TL, TL 2,2980
oda_TotalPurchasingValue|
Total Purchasing Value
TL 3.494.038.293
oda_RatioOfNewSharesAcquiredToCapitalOfNoncurrentFinancialAsset|
Ratio of New Shares Acquired to Capital of Non-current Financial Asset (%)
%18
oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterTransaction|
Total Ratio of Shares Owned in Capital of Non-current Financial Asset After Transaction (%)
%27,02 directly
oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterTransaction|
Total Voting Right Ratio Owned in Non-current Financial Asset After Transaction (%)
%27,02 directly
oda_RatioOfNoncurrentFinancialAssetAcquiredToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Non-current Financial Asset Acquired to Total Assets in Latest Disclosed Financial Statements of Company (%)
%0,5
oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)
%1,9
oda_EffectsOnCompanyOperations|
Effects on Company Operations
Koç Holding's stake in its subsidiary YKB will increase.
oda_DidTakeoverBidObligationArised|
Did Takeover Bid Obligation Arised?
Evet (Yes)
oda_WillExemptionApplicationBeMadeIfTakeoverBidObligationArised|
Will Exemption Application be Made, if Takeover Bid Obligation Arised?
Hayır (No)
oda_TitleNameSurnameOfCounterParty|
Title/ Name-Surname of Counter Party
UniCredit S.p.A.
oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
Is Counter Party a Related Party According to CMB Regulations?
Hayır (No)
oda_RelationWithCounterPartyIfAny|
Relation with Counter Party if any
UniCredit S.p.A. is not a related party.
oda_AgreementSigningDateIfExists|
Agreement Signing Date if Exists
08/11/2021
oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
Value Determination Method of Non-current Financial Asset
Price has been determined based on the Share Purchase Agreement dated 30.11.2019.
oda_DidValuationReportBePrepared|
Did Valuation Report be Prepared?
Düzenlenmedi (Not Prepared)
oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
Reason for not Preparing Valuation Report if it was not Prepared
Valuation report has not been prepared as it is not required pursuant to the regulation.
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|

As publicly disclosed on 30.11.2019, Koç Holding has a right of first offer subject to certain conditions under the Share Sale and Purchase Agreement relating to the sale of Yapı ve Kredi Bankası A.Ş. shares executed among Koç Holding, UniCredit S.p.A. ("UniCredit") and Koç Finansal Hizmetler A.Ş.. In this respect, the notice sent by UniCredit has been assessed and UniCredit has been informed of our decision to purchase 18% of YKB shares with a total nominal value of TL 1,520,469,231 from UniCredit.

Based on the Share Purchase Agreement terms dated 30.11.2019, the price has been determined as TL 2.2980 for each YKB share with a nominal value of 1 TL.

As Koç Holding's direct and indirect shares in YKB will be above the 50% threshold defined in CMB's Communique on Takeover Bids, a mandatory tender offer will be triggered for Koç Holding for the shares of other YKB shareholders. Accordingly, Koç Holding will conduct a mandatory tender offer after closing of the transaction.

In accordance with the Communique on Takeover Bids, the mandatory takeover bid price will be determined such that it cannot be less than;

1) the arithmetical average of daily weighted average stock prices occurring during the six months (180 days) period prior to the date of public disclosure of the agreement relating to sales of shares, i.e. TL 2.3940 ,

2) the highest price paid by Koç Holding for YKB shares within six months prior to the bid, including the price paid for direct share purchases leading to the mandatory tender offer, i.e. TL 2.2980 .

Transfer of shares is subject to obtaining necessary approvals from regulatory authorities in Turkey and abroad, including BRSA and CMB.

Material developments regarding the transaction will be disclosed to 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.