Temel Ticaret Ve Yatirim AS and Koç Holding A.S. acquired Token Financial Technologies from Arçelik Anonim Sirketi for approximately TRY 310 million.
April 29, 2020
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Temel Ticaret Ve Yatirim AS and Koç Holding A.S. (IBSE:KCHOL) acquired Token Finansal Teknolojileri from Arçelik Anonim Sirketi (IBSE:ARCLK) for approximately TRY 310 million on April 30, 2020. Temel Ticaret Ve Yatirim AS and Koç Holding A.S. will pay TRY 17.3556 per share. As per the transaction, Koç Holding A.S. will acquire TRY 9.8 million nominal value shares of Token Finansal Teknolojileri for TRY 170 million and Temel Ticaret Ve Yatirim AS will acquire TRY 8.2 million nominal value shares of Token Finansal Teknolojileri for TRY 142 million. Upon completion, Temel Ticaret Ve Yatirim AS will hold 45.5% stake and iKoç Holding A.S. will hold 54.4% stake in Token Finansal. The transaction was approved by the majority board of Arçelik.
Temel Ticaret Ve Yatirim AS and Koç Holding A.S. (IBSE:KCHOL) completed the acquisition of Token Financial Technologies from Arçelik Anonim Sirketi (IBSE:ARCLK) on April 30, 2020.
Arcelik AS is a Turkey-based company, which is engaged in the production, sales and marketing, customer services after sales, exportation and importation of consumer durable goods and consumer electronics. The Group operates more than 17 manufacturing plants in Turkey, Romania, Russia, China, Republic of South Africa, Thailand and Pakistan. It operates under the following business segments: White Goods, Consumer Electronics and Other. The White Goods segment comprises washing machines, dryers, dish washers, refrigerators, ovens, cookers and the services provided for these products. The Consumer Goods segment comprises televisions primarily with flat screens, computers, cash registers, other electronic devices and the services provided to consumers for these products. The Other segment comprises the revenues from air conditioners, home appliances and furniture and kitchen gadgets except products included in White Goods and Consumer Electronics.
ARÇELIK ANONIM SIRKETI 
