Restructuring Transactions Concerning Subsidiaries with Investment Properties in their Portfolio
In order to consolidate investment properties reported in Sabancı Holding's consolidated financial statements under unified structure for more effective and commercially driven management, the merger process involving the transfer of all assets and liabilities of Exsa Gayrimenkul Proje Geliştirme A.Ş. (Exsa) -a wholly-owned subsidiary of Sabancı Holdinginto another 100% subsidiary, Tursa Sabancı Turizm ve Yatırım İşletmeleri A.Ş. (Tursa), has been completed as of the registration date on 31/10/2024.
Furthermore, a resolution has been adopted to transfer 76.84% of the shares representing the capital of Ankara Enternasyonal Otelcilik A.Ş. (AEO), which are directly held by Sabancı Holding, to Tursa. This transfer was finalized as of11/12/2024.
As a result of these transactions, the assets of Exsa, whose legal entity has been dissolved, and AEO will indirectly remain within Sabancı Holding's asset portfolio through Tursa. These transactions will not affect Sabancı Holding's consolidated financial statements, and Tursa will retain its status as a wholly-owned subsidiary of Sabancı Holding.