Vestel and Anadolu Grubu are selling their Togg shares to TVF and Turkcell

Vestel Elektronik and AG Anadolu Grubu Holding decided to end their investments in Togg and reached an agreement on November 2, 2026, to sell all of their shares to the Turkey Wealth Fund (TVF) and Turkcell. With the transaction totaling 368 million euros, the total stake of TVF and Turkcell will reach 69 percent.

Vestel Elektronik and AG Anadolu Grubu Holding, which have been among Togg's partners since its inception, decided to end their investments in the company. The two companies reached an agreement on November 2, 2026, to sell all of their shares to the Turkey Wealth Fund and Turkcell. The share transfer agreements were announced to the public through notifications made to the Public Disclosure Platform (KAP) on November 3. The total size of the agreement was announced as 368 million euros.

Within the scope of the sale, Vestel Elektronik will transfer its 23 percent partnership in Togg to the Turkey Wealth Fund in exchange for 184 million euros. Anadolu Grubu's remaining 23 percent share will be shared between the two institutions. Of this stake, 12 percent will be transferred to TVF and 11 percent to Turkcell within the scope of the 184 million euro transfer plan. The payment to Anadolu Grubu will be made in cash on the date the transaction is completed.

With the completion of the sales, Togg's shareholder table will also change. In the new partnership structure, the Turkey Wealth Fund will rank first with a 35 percent stake. Turkcell will become the second largest shareholder with a 34 percent share. The distribution of other shareholders will be 23 percent for BMC Otomotiv and 8 percent for the Union of Chambers and Commodity Exchanges of Turkey (TOBB). Thus, while the shareholdings of Vestel Elektronik and Anadolu Grubu in the company will end, the total stake of TVF and Turkcell will reach 69 percent. The entry into force of the transfers will depend on meeting the conditions contained in the agreements. A definite schedule regarding the date on which the transactions will be completed has not been shared yet.

The share sale also has an important financial result for Vestel Elektronik. The company announced that it will use at least 90 percent of the revenue it will obtain to close its bank debts. According to the statement, said amount will be transferred to the payment of matured cash bank loans within 30 days after the realization of the collection. Anadolu Grubu, on the other hand, did not share any information regarding the use of the resource it will provide from the sale.

The Turkey Wealth Fund stated in its statement after increasing its stake in Togg that it aims to develop the brand's technological capacity and competitive power. The fund also announced that it aims to contribute to Togg's growth targets in Turkey and international markets. Turkcell also noted in its statement sent to KAP that the Togg investment coincides with its activities in the fields of technology infrastructure and digital services. The company expects this step to contribute to its long-term investment approach and sustainable value creation targets. With the completion of the agreement, Turkcell's existing 23 percent stake in Togg will rise to 34 percent.