Competition Board exemption in Yapı Kredi Portföy share transfer

Yapı Kredi Bank announced the Competition Board's individual exemption decision during the process of transferring the shares of Yapı Kredi Portföy Yönetimi A.Ş. to AZ International Holdings S.A.

Share Transfer and Exemption Process

Yapı Kredi Bank announced that a new stage has been reached within the scope of the transfer of the shares of its subsidiary Yapı Kredi Portföy Yönetimi A.Ş. to AZ International Holdings S.A. within the Azimut Group. According to the bank's statement via the Public Disclosure Platform (KAP), an individual exemption was granted to the distribution agreement by the Competition Board.

Legal Regulations and Approvals

The Competition Board decided to grant an individual exemption for the duration of the contract, in accordance with Article 5 of the Law on the Protection of Competition No. 4054, regarding the Distribution Agreement Protocol concerning the distribution of investment products following the share transfer and the contract to be signed.

Transfer Agreement and Share Ratios

In its previous statement dated July 29, 2026, the bank had reported that the 12.65 percent shares belonging to the bank and the 87.32 percent shares belonging to Yapı Kredi Yatırım Menkul Değerler A.Ş. in the capital of YKP would be transferred together with the shares of other shareholders.

Distribution and Exclusivity Commitments

Within the scope of the process, a protocol was signed stipulating that investment products managed by YKP will be distributed by Yapı Kredi for fifteen years. This protocol includes non-compete obligations in Turkey and exclusivity commitments in distribution, with certain exceptions.

Closing and Remaining Approval Stages

Following the Competition Board decision dated September 10, 2026, which previously permitted the share transfer, obtaining Capital Markets Board approvals, signing the contract, and fulfilling other closing conditions are awaited for the transaction to be fully completed.