Olmuksan Sold For 66.4 Million Euros

Olmuksan Sold For 66.4 Million Euros

Olmuksan sold for 66.4 million Euros.

IP Container Holdings, the majority shareholder of Olmuksan, signed a contract for the sale of its 90.38 percent share to Mondi Corrugated, for 66.4 million Euros. Shares of Olmuksan fell 10 percent after the sale announcement.

In the contract, the total purchase price was determined as 66.4 million Euros, for a 90.38 percent share. The purchase price of $1 par is valuable per lot 0:30 and corresponds to EUR (contract signature date on the Central Bank of the Republic of Turkey foreign exchange bid £ per nominal value of TL 0.01 on a dry 0.0269; $1 per per nominal value of lot 2 , 69), this fee may be subject to price adjustment.

In the statement sent to KAP from the company, it was stated that the share transfer transactions are expected to be completed in the first half of 2021. After the sale announcement, there was a 10 percent decrease in Olmuksan shares traded in Borsa Istanbul.

The payment will be made in Euro on the date of the transfer of shares. The Turkish Lira equivalent of the purchase price will be recalculated on the share purchase date, so that it can be included in the explanation regarding the share purchase transaction.

In the statement made by Olmuksan to KAP, it was said that a share purchase agreement was signed with Mondi Corrugated BV on January 4, 2021 for the sale of all shares corresponding to 90.38% of the Company’s capital with a nominal value of 0.01 TL per share and a total paid-in capital of 247,102,500 TL.

The transfer of shares of Olmuksan is expected to take place in the first half of 2021.

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