“ÜNLÜ Yatırım Holding” becomes the sole owner of ”ÜNLÜ Menkul”
ÜNLÜ Yatırım Holding, which held 75% of the shares prior to the agreement, has become the sole owner of ÜNLÜ Menkul by acquiring the remaining 25% shares held by Standard Bank Group
ÜNLÜ Yatırım Holding A.Ş. has become the sole owner of its subsidiary ÜNLÜ Menkul Değerler A.Ş., through acquisition of the remaining 25% shares held by Standard Bank Group Limited after the acquisition of control of ÜNLÜ Menkul from Standard Bank in 2012.
Standard Bank Group Limited has simultaneously subscribed for a 4.95% stake in ÜNLÜ Yatırım Holding following necessary approvals from the Capital Markets Board of Turkey, inter alia.
Mahmut L. Ünlü, Chairman and CEO of ÜNLÜ & Co, has commented:
“We have agreed to restructure our partnership with Standard Bank, in accordance with reviewed strategic goals of both parties.
Our motivation is to simplify our group structure, to align interests with Standard Bank Group in ÜNLÜ & Co’s entire business and to reflect Standard Bank’s strategy of focus on its activities in Africa.”