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News

Turkey: 49.04% of Tat Gida's share capital sold to Memisoglu Tarim Ürünleri Ticaret Limited Company

11/01/2024 - Press release , François-Xavier Branthôme

According to information communicated at the beginning of January 2024 by the processing company Tat Gida, a minority share of the capital was sold on January 8, 2024, to the company Memisoglu Tarim Ürünleri Ticaret Limited.
We publish below the official letter shared by Tat Gida with its business partners.

“Dear Business Partners,
We would like to update you about the sale process that has been ongoing since May 2023 regarding Tat Gida shares owned by the Koç Group and affiliated legal entities. We would like to inform you that an agreement has been reached among parties involved.
Throughout this process, an intensive and competitive evaluation was carried out, involving prospective companies aligned with our strategic goals. This transaction aims to fortify our leadership position in Turkey and bolster our ambitious global vision. Given our status as a public company, these proceedings have been conducted under strict confidentiality. Following extensive evaluations, a Share Purchase and Sale Agreement has been signed for the sale of shares corresponding to 49.04% of Tat Gida’s share capital to Memisoglu Tarim Ürünleri Ticaret Limited Company, a dynamic player in the food industry that continues to grow steadily. The official announcement of this transaction has been made by Koç Holding via Public Disclosure Platform. https://www.kap.org.tr/en/BildirimPdf/1234782
With 45 years of expertise in the food sector, Memisoglu Tarim Ürünleri Ticaret Limited Company stands as a leading player in the pulses and grains industry. With a turnover of approximately 8 billion TL, the company carries out its production operations in 9 countries both within Turkey and internationally. The company has a presence in international markets, exporting its products to around 100 countries.
The completion of the transaction will be conditional upon certain closing conditions including obtaining necessary approvals from related authorities. Any significant developments will be shared with you in line with public disclosures.
With the completion of the transaction, the legal entity of the Company will remain as it is. In this context, our commercial activities and operations will continue in line with our goals.
Going forward, we will continue to grow our business with you and create further value. We sincerely thank you for your cooperation.
Kind regards,
Tat Gida San. A.S.”

Some complementary data
According to the Informative Document issued for the 20 March 2023 Ordinary General Assembly to Review Financial Year 2022, the issued capital of TRY 136.000.000 was distributed among the shareholders as follows:

For further information regarding Tat Gida, click here.
For further information regarding Memisoglu Tarim Ürünleri Ticaret Limited Company, click here.

Source: Tat Gida

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Turkey: Tat Gida to be sold?

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