Page 53 - TURKRptSept19

Koc Holding evaluates the shareholder structures of companies in its portfolio and engages in discussions with relevant parties as necessary at all times, Turkey’s largest conglomerate said on August 29 in a stock exchange filing.
In the event that a concrete decision is reached as a result of such assessments, necessary disclosures are made in accordance with local capital market regulations, it added.
That might not seem to amount to a hill of beans but the filing it should quickly be pointed out was made in response to “news in the media regarding the talks between Koc Holding and UniCredit on the reorganization of the existing shareholder structures of their JVs Yapi Kredi Bank and Koc Finansal Hizmetler”.
“In this context, there is no development regarding the news in the media that requires us to make a public disclosure within the framework of the [Turkish Capital Markets Board’s] Communique [on material events disclosure]. And we are making this disclosure due to the questions we have received from our investors,” Koc also said.
On August 28, Bloomberg cited anonymous sources with knowledge of the matter in reporting that Italian global banking and financial services company UniCredit was in talks to take direct control of its indirect stake in Turkish private lender Yapi Kredi Bank.
The move would pave the way for a potential sale or reduction of the
53 TURKEY Country Report September 2019 www.intellinews.com