Public Disclosure Platform Statements from Three Companies Regarding Togg Partnership Structure Claims
Following claims that Vestel Elektronik and Anadolu Group are preparing for a share transfer, the companies made statements to the Public Disclosure Platform (KAP).
Following reports that Vestel Elektronik and Anadolu Group are preparing to transfer their shares in Togg, Vestel, Anadolu Group, and Turkcell announced via the Public Disclosure Platform that discussions are ongoing.
Share Transfer Claims Come to Agenda
News reports in the press claimed that Vestel Elektronik and Anadolu Group, each holding a 23 percent stake in Togg, are preparing to transfer their total 46 percent stake.
While it was suggested that these shares could be acquired by Turkcell and the Turkey Wealth Fund, no information was shared regarding the sales price.
Simultaneous KAP Statements from Three Companies
Immediately following the reports regarding a change in the partnership structure, Vestel Elektronik, AG Anadolu Grubu Holding, and Turkcell submitted notifications to the Public Disclosure Platform (KAP).
The companies emphasized that discussions on the matter are ongoing, but there is no official transaction finalized yet.
Assessments by Turkcell and Anadolu Group
Turkcell stated that it can conduct discussions regarding its subsidiary portfolio within the framework of its investment strategies, and the process concerning the transaction mentioned in the news is ongoing.
Anadolu Group announced that various discussions are held in line with its investment policies and strategies, but no binding agreement has been signed yet.
Details of the Statement Made by Vestel
In the statement made by Vestel, it was stated that various discussions regarding the shares are ongoing within the framework of investment policies and strategies.
The company shared with the public that there is no board of directors decision taken at this stage that finalizes the transaction.
Current Partnership Distribution of Togg
In Togg, which has a nominal capital of 7.2 billion liras, Vestel Elektronik, Anadolu Grubu Holding, Turkcell, and BMC Otomotiv each hold a 23 percent stake.
The partnership structure of the company also includes the Union of Chambers and Commodity Exchanges of Turkey with an 8 percent share.