Haci Ömer Sabanci Holding A.S. (IBSE:SAHOL) said it plans to grow its stake in CarrefourSA Carrefour Sabanci Ticaret Merkezi A.S. (IBSE:CRFSA) to at least 59.08% after the completion of a planned simultaneous increase and decrease of the capital of CarrefourSA. Sabanci Holding intends to inject TRY 386.5 million ($51.6 million/€43.8 million) into CarrefourSA as part of the transaction, the conglomerate said in a filing with Borsa Istanbul's public disclosure platform KAP on September 08, 2020. Sabanci Holding currently holds a direct 50.61% stake in CarrefourSA, bourse data shows.

In the transaction, CarrefourSA plans to first decrease its share capital to TRY 104.2 million from TRY 700 million and simultaneously carry out a capital increase in the amount of TRY 23.5 million, which will leave the company with an issued share capital of TRY 127.77 million at the end. Current shareholders will be allowed to take part in the capital increase by using their pre-emptive rights for a consideration of TRY 17 for each batch of shares with TRY 1 nominal value in total, according to the filing.