[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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English
oda_NoncurrentAssetSaleAbstract|
Non-Current 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
Evet (Yes)
oda_AnnouncementContentSection|
Announcement Content
oda_NatureOfNonCurrentAssetSold|
Nature of Non Current Asset Sold
Production facility
oda_LocationAndAreaOfNoncurrentAssetSold|
Location and Area of Non-current Asset Sold
Wroclaw, Poland, 223,089 square meters in total including the factory, roads, parking lots and vacant spaces
oda_BoardDecisionDateForSale|
Board Decision Date for Sale
21/02/2020
oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForSale|
Were Majority of Independent Board Members' Approved the Board Decision for Sale?
Yes
oda_TotalSalesValue|http://www.xbrl.org/2003/role/verboseLabel
Total Sales Value
USD 31,4 million
oda_RatioOfTransactionAmountToValueOfCompanyBasedOnTheMathematicalWeightedAverageOnADailyBasisSixMonthsPriorToDateOfBoardDecision|
Ratio of Transaction Amount to Value of Company Based on the Mathematical Weighted Average on a Daily Basis, Six Months Prior to Date of Board Decision (%)
%4,7
oda_RatioOfSalesPriceToPaidInCapitalOfCompany|
Ratio of Sales Price to Paid-in Capital of Company (%)
%58
oda_RatioOfSalesValueToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Sales Value to Total Assets in Latest Disclosed Financial Statements of Company (%)
%1,0
oda_RatioOfSalesValueToTotalNetNoncurrentAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Sales Value to Total Net Non-current Assets in Latest Disclosed Financial Statements of Company (%)
%5,8
oda_RatioOfValueOfNoncurrentAssetToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|
Ratio of Value of Non-current Asset to Total Assets in Latest Disclosed Financial Statements of Company (%)
%0,8
oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|
Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)
%1,2
oda_SalesConditions|
Sales Conditions
Peşin (Cash)
oda_DateOnWhichRheTransactionWasWillBeCompleted|
Date on which the Transaction was/will be Completed
--
oda_AimOfSaleAndEffectsOnCompanyOperations|
Aim of Sale and Effects on Company Operations
The facility, which is subject to sale is a TV assembly plant, which is being sold as part of cost optimization. The sale is expected to have a positive impact on the activities of Vestel Elektronik Sanayi ve Ticaret AŞ.
oda_ProfitLossArisedAfterSaleOfNoncurrentAsset|
Profit / Loss Arised After Sale of Non-Current Asset
Will be given in the footnotes of Vestel Elektronik's consolidated financial statements for the January 1- March 31, 2020 period.
oda_HowWillSalesProfitBeUsedIfExists|
How will Sales Profit be Used if Exists?
--
oda_BoardDecisionDateForUseOfSalesProfitIfExists|
Board Decision Date for Use of Sales Profit if Exists
--
oda_CounterParty|
Counter Party
LG Chem Wroclaw Energy Sp. zo. o.
oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|
Is Counter Party a Related Party According to CMB Regulations?
Hayır (No)
oda_NatureofRelationWithCounterParty|
Nature of Relation with Counter Party
--
oda_AgreementSigningDateIfExists|
Agreement Signing Date if Exists
28/02/2020
oda_ExercisePriceOfRetirementRightRelatingToSignificantTransaction|
Exercise Price of Retirement Right Relating to Significant Transaction
--
oda_ValueDeterminationMethodOfNoncurrentAsset|
Value Determination Method of Non-Current Asset
Both the Buyer and the Seller have prepared valuation reports. The parties determined the sales price by negotiation based on the prices resulting from the valuation reports.
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
08.11.2019
oda_TitleOfValuationCompanyPreparedReport|
Title of Valuation Company Prepared Report
AEDIUM Civil Co.
oda_ValueDeterminedInValuationReportIfExists|
Value Determined in Valuation Report if Exists
USD 36 million
oda_ReasonsIfTransactionWasntWillNotBePerformedInAccordanceWithValuationReport|
Reasons if Transaction wasn't/will not be performed in Accordance with Valuation Report
Sales price is determined by negotiation.
oda_ExplanationSection|
Explanations
oda_ExplanationTextBlock|
Vestel Polska Technology Center sp. z o.o., which is %100 owned by our wholly-owned subsidiary Vestel Ticaret AŞ ("Vestel Ticaret"), transferred its TV assembly facility together with its building and land in Wroclaw Poland to LG Chem Wrocław Energy Sp. zo.o. for USD 31.4 million on February 28, 2020. Polish transaction advisory firm JP Weber Dudarski sp.k. has acted as the exclusive sell-side advisor to Vestel Elektronik Sanayi ve Ticaret AŞ.
The title of Compal Electronics Europe sp. z o.o., which was acquired on December 30, 2016 within the scope of the brand licensing agreement signed with Toshiba Visual Solutions Corporation on September 1, 2016, was changed to Vestel Polska Technology Center sp. z o.o. after the acquisition.
The afore-mentioned facility is a TV assembly plant, which is being sold as part of cost optimization.
The fixed asset sale of our indirect subsidiary Vestel Polska Technology Center sp. z o.o., is not considered to be a "Material Transaction" as per the materiality criteria calculations done pursuant to the Capital Markets Board's "Communiqué on the Common Principles Regarding Material Transactions and the Right to Dissociate (II-23.1).

Public disclosure of the afore-mentioned fixed asset sale transaction was postponed until the signing of a binding sale agreement with a Board resolution dated 21.02.2020 and numbered 2020/9 in accordance with the Article 6 of the Capital Markets Board's Communiqué on Material Events Disclosure. The announcement was postponed as the signing of a binding sale agreement was not certain at the time of the signing of the non-binding offer letter between the parties in order not to mislead investors. This disclosure is made as the reason for the postponement has ended with the signing of a final sale agreement and completion of the sale transaction.