KAP

ARÇELİK A.Ş.

ARCLK

Publish Date

01.07.202110:44:43

Disclosure Type

ÖDA

Year

Period

Notification Attachments (0)

No Attachment!

Non-current Financial Asset Acquisition

Share purchase completion with Hitachi Global Life Solutions, Inc.

Related Companies

[]

Related Funds

[]

Turkish

English

oda_NoncurrentFinancialAssetAcquisitionAbstract|

Noncurrent Financial Asset Acquisition

oda_UpdateAnnouncementFlag|

Update Notification Flag

Evet (Yes)

oda_CorrectionAnnouncementFlag|

Correction Notification Flag

Hayır (No)

oda_DateOfThePreviousNotificationAboutTheSameSubject|

Date Of The Previous Notification About The Same Subject

16.12.2020 & 31.03.2021

oda_DelayedAnnouncementFlag|

Postponed Notification Flag

Hayır (No)

oda_AnnouncementContentSection|

Announcement Content

oda_BoardDecisionDateForAcquisition|

Board Decision Date for Acquisition

16/12/2020

oda_WereMajorityOfIndependentBoardMembersApprovedTheBoardDecisionForAcquisition|

Were Majority of Independent Board Members' Approved the Board Decision for Acquisition

Evet

Yes

oda_TitleOfNoncurrentFinancialAssetAcquired|

Title of Non-current Financial Asset Acquired

Hitachi Home Appliances Netherland B.V.

oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|

Field of Activity of Non-current Financial Asset whose Shares were being Acquired

Japonya hariç çoğunlukla Asya Pasifik bölgesinde Hitachi markalı ev aletlerinin üretimi, satışı ve pazarlaması

Manufacturing, sales and distribution of home appliances businesses mainly in Asia Pacific, excluding the Japanese market.

oda_CapitalOfNoncurrentFinancialAsset|

Capital of Noncurrent Financial Asset

10.000 Euro

oda_AcquirementWay|

Acquirement Way

Satın Alma (Purchase)

oda_DateOnWhichTheTransactionWasWillBeCompleted|

Date on which the Transaction was/will be Completed

01.07.2021

oda_AcquisitionConditions|

Acquisition Conditions

Peşin (Cash)

oda_DetailedConditionsIfItIsATimedPayment|

Detailed Conditions if it is a Timed Payment

oda_NominalValueOfSharesAcquired|

Nominal Value of Shares Acquired

6.000 Euro

oda_PurchasePricePerShare|

Purchase Price Per Share

Hisse başına yaklaşık 57.171USD olarak hesaplanmaktadır.

It is calculated approximately 57.171USD per share

oda_TotalPurchasingValue|

Total Purchasing Value

Bağımsız denetime tabi tutulacak kapanış finansal tablolarındaki verilere ve o tarihe kadar azınlık paylarında olabilecek değişikliklere göre düzeltmeye tabi olmak üzere nakit ve borç benzeri varlıklar dikkate alınıp azınlık payların etkisi çıkarıldıktan sonra, hisselerin %60 ı için işlem bedeli 343.024.730 USD olarak hesaplanmıştır. Bu bedelin 268.024.730 USD tutarlık kısmı Hitachi Global Life Solutions, Inc. hesabına aktarılırken, 75 milyon USD tutarlık kısmı ise yeddi emin hesaba aktarılmıştır.

The transaction value that has been calculated as 343.024.730 USD for the 60% of the shares after customary closing adjustments based on the estimated balance of cash and debt like items and minority shares adjustment for the outstanding minority shares, will be subject to adjustments according to the audited financial statements of the Closing Date and any changes that may occur in the minority shares until that date. Amount of $268.024.730 of this price was transferred to Hitachi Global Life Solutions, Inc. while the amount of 75.000.000USD was transferred to the escrow account.

oda_RatioOfNewSharesAcquiredToCapitalOfNoncurrentFinancialAsset|

Ratio of New Shares Acquired to Capital of Non-current Financial Asset (%)

%60

60%

oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterTransaction|

Total Ratio of Shares Owned in Capital of Non-current Financial Asset After Transaction (%)

%60

60%

oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterTransaction|

Total Voting Right Ratio Owned in Non-current Financial Asset After Transaction (%)

%60

60%

oda_RatioOfNoncurrentFinancialAssetAcquiredToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|

Ratio of Non-current Financial Asset Acquired to Total Assets in Latest Disclosed Financial Statements of Company (%)

%5,6

5.6%

oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|

Ratio of Transaction Value to Sales in Latest Annual Financial Statements of Company (%)

%7,3

7.3%

oda_EffectsOnCompanyOperations|

Effects on Company Operations

Asya Pasifik bölgesindeki büyüme hedefimize katkı sağlaması beklenmektedir.

We expect this transaction to contribute our growth plan in Asia-Pasific region

oda_DidTakeoverBidObligationArised|

Did Takeover Bid Obligation Arised?

Hayır (No)

oda_WillExemptionApplicationBeMadeIfTakeoverBidObligationArised|

Will Exemption Application be Made, if Takeover Bid Obligation Arised?

Hayır (No)

oda_TitleNameSurnameOfCounterParty|

Title/ Name-Surname of Counter Party

Hitachi Global Life Solutions, Inc.

oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|

Is Counter Party a Related Party According to CMB Regulations?

Hayır (No)

oda_RelationWithCounterPartyIfAny|

Relation with Counter Party if any

Sermaye veya yönetim ilişkisi yoktur.

There is no capital or management relationship. .

oda_AgreementSigningDateIfExists|

Agreement Signing Date if Exists

16/12/2020

oda_ValueDeterminationMethodOfNoncurrentFinancialAsset|

Value Determination Method of Non-current Financial Asset

Pazarlık yöntemi

Negotiation method

oda_DidValuationReportBePrepared|

Did Valuation Report be Prepared?

Düzenlenmedi (Not Prepared)

oda_ReasonForNotPreparingValuationReportIfItWasNotPrepared|

Reason for not Preparing Valuation Report if it was not Prepared

Zorunlu değildir.

Preparation of a valuation report is not mandatory.

oda_DateAndNumberOfValuationReport|

Date and Number of Valuation Report

oda_TitleOfValuationCompanyPreparedReport|

Title of Valuation Company Prepared Report

oda_ValueDeterminedInValuationReportIfExists|

Value Determined in Valuation Report if Exists

oda_ReasonsIfTransactionWasntWillNotBePerformedInAccordanceWithValuationReport|

Reasons if Transaction wasn't/will not be performed in Accordance with Valuation Report

oda_ExplanationSection|

Explanations

oda_ExplanationTextBlock|

16.12.2020 ve 31.03.2021 tarihli açıklamalarımızı takiben, Hitachi Global Life Solutions, Inc. ("HGLS") ile oluşturacağımız ortaklık projesi kapsamında Hollanda'da kurulan "Hitachi Home Appliances Netherland B.V." (JV) şirketinin %60 hissesinin satın alınmasına ilişkin Hisse Satın Alma Sözleşmesi'nde belirtilen ön şartların önemli bir kısmı bugün tamamlanmıştır.

Taraflarca, Çin'deki HGLS iştiraklerinin JV'ye devrine ilişkin tescil işlemlerinin henüz tamamlanmaması sebebiyle, satın alma bedelinin 75 Milyon USD tutarındaki kısmının bir yeddi emin hesaba konulması ve 8 hafta içinde tamamlanması beklenen söz konusu tescil işlemlerini takiben yeddi eminde bulunan tutarın HGLS'ye ödenmesi koşuluyla kapanış işlemlerinin gerçekleştirilmesi konusunda mutabık kalınmıştır. Tescil işlemlerinin belirtilen 8 haftalık süre içerisinde tamamlanamaması durumunda, yeddi eminde bulunan tutarın Arçelik A.Ş.'ye iadesi gerçekleşecek olup, tescil işlemlerinin tamamlanması sonrası ilgili tutar HGLS'ye ödenecektir.

Satın alma bedeli HGLS tarafından sağlanan 30.06.2021 tarihli tahmini finansal tablolar üzerinden, nakit ve borç benzeri varlıklar dikkate alınıp azınlık payların etkisi çıkarıldıktan sonra 343.024.730 USD olarak hesaplanmış olup, yılsonuna kadar gerçekleştirilecek 30.06.2021 tarihli finansal tabloların bağımsız denetimi sonrasında kesinleşen tutarlara ve azınlık paylarının değerindeki değişikliklere göre nihai fiyat düzeltmesi yapılacaktır. Buna göre, 1 Temmuz 2021 tarihi itibariyle toplam Hisse Satın Alma bedelinin 268.024.730 USD tutarındaki kısmı HGLS'e ödenmiş, 75.000.000 USD tutarındaki kısmı ise yeddi emin hesaba aktarılmış ve hisse devri tamamlanmıştır.

Ortak Girişim Sözleşmesi, Marka Lisans Sözleşmesi ve ilgili sair sözleşmeler imzalanmış, ortak girişim şirketinin unvanı "Arçelik Hitachi Home Appliances B.V." olarak tadil edilmiştir. Gelinen aşamada işlem, HGLS'nin Tayland ve Çin'de üretim tesisleri bulunan iki iştirakini ve Tayland, Çin, Hong Kong, Tayvan, Singapur, Malezya, Endonezya, Birleşik Arap Emirlikleri ve Vietnam'daki dokuz satış şirketini içermekte olup ayrıca, Şirket faaliyetlerinin yönetimi için Tayland'da yeni bir operasyon merkezi şirket kurulacaktır.

Following our disclosure made on 16.12.2020 and 31.03.2021, a significant part of closing conditions specified in the Purchase Agreement regarding the acquisition of 60% shares of "Hitachi Home Appliances Netherland B.V." (JV) which is established in Netherlands as a part of the partnership with Hitachi Global Life Solutions, Inc. ("HGLS"), have been satisfied today.

Due to the fact that the registration procedures regarding the transfer of HGLS subsidiaries in China to JV have not been completed yet, it has been agreed by the parties that the closing transactions will be carried out on the condition that 75.000.000 USD of the total transaction value is deposited into the escrow account and the amount in the escrow account would be paid to HGLS after the completion of the registration, which is expected to be completed within 8 weeks. If the registration process cannot be completed within the specified 8-week period, the amount in the escrow account will be returned to Arçelik A.Ş., and the relevant amount will be paid directly to HGLS after the registration process is completed.

Transaction Value that has been calculated as 343.024.730 USD based on 30.06.2021 estimated closing accounts, which was provided by HGLS, after customary adjustments based on the estimated balance of cash and debt like items and minority shares adjustment for the outstanding minority shares. By the end of year, final purchase price adjustment will be completed after finalization of independent audit of 30.06.2021 financial statements, considering the audited accounts and minority shares value changes. Accordingly, as of 1 July 2021, while an amount of 268.024.730 USD of total Transaction Value was paid to HGLS, an amount of 75.000.000 USD part was transferred to escrow account and share transfer has been completed.

Joint Venture Agreement, Master Branding Agreement and other relevant agreements were signed, joint venture corporate name was amended as "Arçelik Hitachi Home Appliances B.V.". At this stage, the transaction includes 2 subsidiaries of HGLS with manufacturing facilities in Thailand and China, and 9 sales companies in Thailand, China, Hong Kong, Taiwan, Singapore, Malaysia, Indonesia, the UAE and Vietnam. In addition to this, a new operation centre will be established in Thailand in order to manage corporate activities.

This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.

Notification Attachments (0)

No Attachment!

Notifications Financial Statements Corporate Actions

PDF

WORD

EXCEl