Approval for Transfer of Yapı Kredi Portföy to AZ International Holdings

Yapı ve Kredi Bankası announced that the necessary permission has been received from the Competition Board regarding the transfer of shares in its subsidiary Yapı Kredi Portföy Yönetimi to AZ International Holdings S.A., which operates under the Azimut Group.

Competition Board Process

Yapı ve Kredi Bankası A.Ş. announced that an important milestone has been left behind in the official process carried out regarding the transfer of shares in its subsidiary Yapı Kredi Portföy Yönetimi A.Ş.

In the official statement made by the bank to the Public Disclosure Platform (KAP), it was publicly announced that permission was granted by the Competition Board to execute the aforementioned share transfer.

Details of the Share Transfer Agreement

Yapı Kredi had previously announced in a statement on July 29, 2026, that it had signed an agreement for the transfer of 12.65 percent of the shares in YKP's capital owned by the bank and 87.32 percent owned by Yapı Kredi Yatırım Menkul Değerler A.Ş.

Exclusive Distribution Agreement

Following the completion of the transactions, investment products managed by Yapı Kredi Portföy are planned to be distributed through Yapı Kredi for 15 years.

Within the scope of the signed protocol, a non-compete obligation in Turkey and a commitment to exclusivity in distribution activities, excluding certain exceptions, are included.

Financial Terms and Payments

According to the financial terms of the transfer agreement, the upfront amount to be paid at closing was calculated as a maximum of 13 billion 977 million liras, including performance and price adjustments.

In addition, a deferred amount of up to 2 billion 415 million liras anticipated to be collected in 2027, along with various adjustments and long-term payments, is foreseen.

Other Conditions for Closing

Following the permission decision of the Competition Board, obtaining permissions from the Capital Markets Board is required for the transfer process to be completed.

Additionally, work continues on closing conditions such as signing the final Distribution Agreement and obtaining an individual exemption decision from the Competition Board regarding the agreement.