Non-current Financial Asset Sale
As previously disclosed to public, an application to the Competition Authority was made on October 6, 2021 with regard to the acquisition of Sabancı Holding's entire shares in Philsa Philip Morris Sabancı Sigara ve Tütüncülük Sanayi ve Ticaret A.Ş. (PHILSA) and Philip Morris SA, Philip Morris Sabancı Pazarlama ve Satış A.Ş. (PMSA) by Philip Morris Products S.A. (PM) and/or its affiliates; and the necessary permits for the contemplated transaction were granted on December 24, 2021 by the Competition Board.
The necessary conditions are satisfied and relevant permits and approvals for the contemplated acquisition have been obtained, and Sabancı Holding's entire shares in PHILSA with TRY 750,000 nominal value representing 25% of the share capital and in PMSA with TRY 173,250 nominal value representing 24.75% of the share capital have been acquired by PM in consideration of TRY 2,747,308,823 on January 5, 2022 post predetermined adjustments at closing. The acquisition price has been collected by Sabancı Holding on the same day.