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MarketScreener Homepage  >  Equities  >  ISTANBUL STOCK EXCHANGE  >  AG Anadolu Grubu Holding AS    AGHOL   TRAYAZIC91Q6

AG ANADOLU GRUBU HOLDING AS

(AGHOL)
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Anadolu Grubu : Announcement regarding Anadolu Restoran İşletmeleri (McDonald's) - August 20, 2020

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09/17/2020 | 02:20am EDT

KAMUYU AYDINLATMA PLATFORMU

AG ANADOLU GRUBU HOLDİNG A.Ş. Material Event Disclosure (General)

Summary

Announcement regarding Anadolu Restoran İşletmeleri (McDonald's)

Material Event Disclosure General

Related Companies

[]

Related Funds

[]

Material Event Disclosure General

Update Notification Flag

Evet (Yes)

Correction Notification Flag

Hayır (No)

Date Of The Previous Notification About The Same Subject

30.01.2020

Postponed Notification Flag

Hayır (No)

Announcement Content

Explanations

As stated in our earlier announcement, the share purchase agreement for the sale of 100% shares of Anadolu Restoran İşletmeleri Ltd. Şti. ("McDonald's", "Anadolu Restoran") to Birlesik Holding Limited was signed on 30.01.2020 with expectations to close the transaction in 1Q20 following the approval of related legal authorities.

Also as previously publicly announced, the equity value of Anadolu Restoran İşletmeleri Ltd. Şti. ("McDonald's", "Anadolu Restoran") was determined at 280.739.431 TL.

The buyer Birlesik Holding Limited following upon signing of the agreement has applied to the Competition board for an approval on February 2, 2020.

Since the Competition Board still has not yet reached a decision for almost seven months and the share purchase agreement has expired on July 30, 2020, an amendment agreement with a new expiration date has been signed by the parties on August 20, 2020.

Also during this period, especially starting from April, restaurants have been closed for a certain period of time due to Covid-19 and the operations have been negatively impacted which by the Buyer's request necessitated an amendment agreement and a revision of the equity value of Anadolu Restoran based on change in the debt level of the company at the time of the closure of the transaction.

We proclaim that our above disclosure is in conformity with the principles set down in "Material Events Communiqué" of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we're personally liable for the disclosures.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

AG Anadolu Grubu Holding AS published this content on 20 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 September 2020 06:19:03 UTC

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Financials
Sales 2020 58 348 M 7 552 M 7 552 M
Net income 2020 - - -
Net Debt 2020 - - -
P/E ratio 2020 -
Yield 2020 -
Capitalization 4 710 M 609 M 610 M
Capi. / Sales 2020 0,08x
Capi. / Sales 2021 0,07x
Nbr of Employees 57 577
Free-Float 37,9%
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 21,15 TRY
Last Close Price 19,34 TRY
Spread / Highest target 24,1%
Spread / Average Target 9,36%
Spread / Lowest Target -5,38%
Managers
NameTitle
Mehmet Hursit Zorlu Chief Executive Officer
Tuncay Özilhan Chairman
Can Çaka Group Chief Financial Officer
Serkant Paker Chief Information Officer
Salih Metin Ecevit Director
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