Following our material event disclosure dated 04/11/2022 within the scope of merging our cabin interior areas and products manufacturing subsidiaries, Our Incorporation has decided to acquire %50 shares of our subsidiary Uçak Koltuk Üretimi San. ve Tic. A.Ş. ("TSI"), currently owns %50 shares directly and indirectly, from Kibar Holding A.Ş, and signed a share purchase agreement for the transfer of the remaining %50 shares in TSI. An application to the Turkish Competition Authority will be made in the upcoming days.
Parties target the completion date of the transaction within the fourth quarter of 2022 and it is subject to closing conditions being met including approval from regulatory authorities.
The Board resolution pertaining to the approval of the agreement was taken unanimously.
Any material developments with respect to this disclosure will be further shared with the public.
This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.