Koç Holding A.S. completed the acquisition of an additional 18% stake in Yapi ve Kredi Bankasi A.S. (IBSE : YKBNK) from UniCredit S.p.A..
April 31, 2022
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Koç Holding A.S. (IBSE:KCHOL) agreed to acquire an additional 18% stake in Yapi ve Kredi Bankasi A.S. (IBSE:YKBNK) from UniCredit S.p.A. (BIT:UCG) for TRY 3.5 billion on November 8, 2021. Pursuant to the terms of the transaction, Koç Holding A.S., shall acquire the shares of Yapi ve Kredi Bankasi A.S., for TRY 2.2980 per share. The consideration will be paid in cash. As a result of the transaction, stake of Koç Holding A.S., shall increase to around 27.02%. UniCredit S.p.A., shall also sell the remaining 2% stake in the market, resulting in its stake ceasing to exist. Koç Holding A.S., will conduct a mandatory tender offer after closing of the transaction. The completion of the transaction is subject to obtaining necessary approvals from regulatory authorities in Turkey and abroad, including Banking Regulation and Supervision Agency and Capital Markets Board of Turkey. The transaction has been approved by the Board of Yapi ve Kredi Bankasi A.S., on November 8, 2021. Completion of the transaction is expected to occur in the first quarter of 2022. Based on the 3Q21 capital position, the transaction will have an overall low-mid single digit positive impact on the consolidated CET1 ratio of UniCredit S.p.A. For the financial year 2021, also considering other conditions, there will be a resulting negative consolidated P&L impact of approximately €1.6 billion (TRY 0.018 million) (based on 3Q data), mostly deriving from the FX revaluation reserve related to the YKB stake, which will have no impact on the CET 1 capital, being currently already recognized.
Koç Holding A.S. (IBSE:KCHOL) completed the acquisition of an additional 18% stake in Yapi ve Kredi Bankasi A.S. (IBSE : YKBNK) from UniCredit S.p.A. (BIT:UCG) on April 1, 2022. Following the transaction, UniCredit ceased to be a shareholder of Yapi ve Kredi Bankasi.
UniCredit S.p.A. is one of the leading European banking groups. Income breaks down by activity as follows:
- corporate, investment, finance and market banking (53.7%): leasing, factoring, stock transactions, participation in the rate, exchange, stock and derivative markets, stock exchange intermediation, etc.;
- retail banking (46.3%).
At the end of 2022, the group managed EUR 511.9 billion in deposits and EUR 524.9 billion in loans.
Products and services are marketed through a network of 3,175 branches located primarily in Italy (2,986).
Income (including intragroup) is distributed geographically as follows: Italy (43.5%), Germany (24.3%), Central Europe (16.6%), Eastern Europe (9.6%) and Russia (6%).
UNICREDIT S.P.A. 
