GLOBAL YATIRIM HOLDING Further to our announcement dated 25 September 2020 regarding the completion of the merger of Global Investment Holdings' subsidiary Actus Asset Management and Istanbul Asset Management under Istanbul Asset Management, Global Investment Holdings has initiated the process to exercise its option to buy additional 40% of Istanbul Asset Management's (merged entity) shares. Currently, Global Investment Holdings' share in the merged entity is 26.6%. Completion of such transaction is conditional upon receipt of customary regulatory approval of the Capital Markets Board of Turkey.
Through the exercise of the option, Global Investment Holdings is to acquire 5,673,600 shares, with a nominal value of 1 TL each, corresponding to 40% of the share capital of Istanbul Asset Management. Once the share transfer is materialized, Global Investment Holdings will be the largest shareholder of Istanbul Asset Management with 66.6% stake, which will pave the way for full consolidation.
Istanbul Asset Management (the merged entity) is Turkey's largest domestic and independent asset management company with an AUM of 9.1bn TL as of the end of April 2021 (6.4bn TL at the end 2020). Istanbul Asset Management is the most extensive asset management platform of Turkey with the current corporate investor base, market leader position in alternative asset classes and foreign country asset funds.
A further announcement will be made when additional developments require further information disclosure.
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Global Yatirim Holding AS published this content on 21 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 May 2021 13:48:00 UTC.
