A Share Puchase/Sale Agreement has been signed between our subsidiary Anadolu Endüstri Holding A.Ş. (AEH), SEEF Foods S.A.R.L. (SEEF Foods) and Koninklijke Bunge B.V. (Bunge), regarding the sale of 55.25% shares of AEH and 44.75% shares of SEEF Foods in Ana Gıda İhtiyaç Maddeleri ve Sanayi Ticaret A.Ş.(Ana Gıda) to Bunge. The agreement will be finalized pursuant to regulatory approvals and the share transfer is expected to be realized within the first quarter of 2017.
According to the aforementioned agreement, while the enterprise value of Ana Gıda is determined as TL 172.5 million, the share value will be determined based on various adjustments including year-end cash, debt and working capital. As such, conducted upon above mentioned enterprise value, while the sale value of AEH's 55.25% shares is calculated as TL 55.4 million based on net debt, working capital and other adjustments in regard of September 30, 2016 financial statements of Ana Gıda presently, the final sale value will be calculated in consideration of December 31, 2016 financial statements.
Yazicilar Holding AS published this content on 15 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 15 December 2016 08:21:30 UTC.