As stated in our announcement dated July 15, 2017, in regard of the 19.5% share of BC Partners managed Moonlight Capital S.A. (Moonlight Capital) in MH Perakendecilik ve Ticaret A.Ş. (MH Perakendecilik), which holds 50% shares of Migros Ticaret A.Ş. (Migros), Anadolu Endüstri Holding A.Ş. (AEH) retained a 'buy option' and Moonlight Capital retained a 'sell option', to be exercised within the May 1, 2017 and October 31, 2017 period.
In this context, Moonlight Capital has notified AEH on May 2, 2017 of its decision regarding the exercise of the aforementioned sale option.
In regard of this transaction, it is calculated that AEH will pay total amount of TL 509,029,436 after deductions, for the purchase of 19.5% shares of MH Perakendecilik, based on per share price of TL 30.2 for Migros, in line with the provisions of the Share Purchase Agreement dated Dec. 31, 2014. The exercise of the option will be completed by the end of the 10th business day following this notification; i.e. May 16, 2017 pursuant to the transfer of purchase amount and shares, again along the provisions of the Share Purchase Agreement. Following the transaction, while AEH's share in MH Perakendecilik will increase to 100.0% and accordingly its indirect share in Migros will increase to 50.0%, BC Partners' share in Migros through the funds it manages will be at 30.5%. Migros will continue to be managed as co-control by BC Partners' managed funds and AEH; as such there will be no mandatory tender offer requirement.
Yazicilar Holding AS published this content on 03 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 04 May 2017 07:24:22 UTC.