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Related Companies
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Related Funds
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English
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oda_NoncurrentFinancialAssetAcquisitionAbstract|
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oda_UpdateAnnouncementFlag|
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Hayır (No)
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oda_CorrectionAnnouncementFlag|
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Hayır (No)
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oda_DateOfThePreviousNotificationAboutTheSameSubject|
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-
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oda_DelayedAnnouncementFlag|
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Evet (Yes)
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oda_AnnouncementContentSection|
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oda_BoardDecisionDateForAcquisition|
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15/04/2022
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oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForAcquisition|
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Yes
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oda_TitleOfNoncurrentFinancialAssetAcquired|
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Microtex Composites S.r.l.
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oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|
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Carbon fiber fabrics and prepregs producer
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oda_CapitalOfNoncurrentFinancialAsset|
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200.000 Euro
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oda_AcquirementWay|
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Satın Alma (Purchase)
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oda_DateOnWhichTheTransactionWasWillBeCompleted|
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The acquisition of shares is expected to be finalized in the second quarter of 2022, subject to the fullfilment of closing conditions required for Italian Golden Power approval.
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oda_AcquisitionConditions|
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Peşin (Cash)
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oda_DetailedConditionsIfItIsATimedPayment|
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-
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oda_NominalValueOfSharesAcquired|
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120.000 Euro
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oda_PurchasePricePerShare|
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205,00 Euro
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oda_TotalPurchasingValue|
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24.600.000 Euro
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oda_RatioOfNewSharesAcquiredToCapitalOfNoncurrentFinancialAsset|
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60%
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oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterTransaction|
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60%
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oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterTransaction|
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After the transfer of shares, Kordsa Inc has 60% direct voting right in Microtex Composites S.rl. Our Company has 60% voting right in the company indirectly
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oda_RatioOfNoncurrentFinancialAssetAcquiredToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
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%2,34 (31.12.2021)
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oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
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%2,77 (31.12.2021)
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oda_EffectsOnCompanyOperations|
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With this investment in composite technologies, Kordsa aims to increase its product diversity; grow the number of its client sectors; and also, to expand its service range in the automotive and motorsport sectors.
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oda_DidTakeoverBidObligationArised|
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Hayır (No)
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oda_WillExemptionApplicationBeMadeIfTakeoverBidObligationArised|
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Hayır (No)
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oda_TitleNameSurnameOfCounterParty|
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Massimiliano Becagli s.a.s., Massimiliano Becagli, Federico Becagli, Silvio Campigli ve Gainfranco Meschini
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oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
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Hayır (No)
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oda_RelationWithCounterPartyIfAny|
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-
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oda_AgreementSigningDateIfExists|
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20/04/2022
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oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|
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Based on Negotiations
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oda_DidValuationReportBePrepared|
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Düzenlenmedi (Not Prepared)
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oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|
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No regulatory requirement since it is not a related party transaction.
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oda_DateAndNumberOfValuationReport|
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-
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oda_TitleOfValuationCompanyPreparedReport|
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-
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oda_ValueDeterminedInValuationReportIfExists|
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-
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oda_ReasonsIfTransactionWasntWillNotBePerformedInAccordanceWithValuationReport|
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-
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oda_ExplanationSection|
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oda_ExplanationTextBlock|
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In line with the Company's target of transformation into an advanced material company, after the organic growth investments in Turkey and inorganic growth investments in the USA, a Share Purchase Agreement dated 20.04.2022 was signed with regard to the acquisition of Microtex Composites S.r.l. ("Microtex" shares representing 60% of total share capital by our subsidiary Kordsa Inc for a consideration of Euro 24.600.000. (*)
The acquisition of shares is expected to be finalized in the second quarter of 2022, subject to the fullfilment of closing conditions required for Italian Golden Power approval.
With this investment in composite technologies, Kordsa aims to increase its product diversity; grow the number of its client sectors; and also, to expand its service range in the automotive and motorsport sectors. Subject to the fullfilment of the conditions set forth in the agreement, the remaining 40% shares of Microtex will be able to purchased by our subsidiary Kordsa Inc within 5 years after the closing date and Kordsa Inc will be able to increase its shares up to 100%.
(*) The Material Event Disclosure regarding the acquisition process has been decided to delay to prevent our share performance and protect our investors against the possible fluctuations and speculative movements in our shares if the purchasing transaction would fail in the end of process. |
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