KAP

ARÇELİK A.Ş.

ARCLK

Publish Date

28.06.202208:00:12

Disclosure Type

ÖDA

Year

Period

Notification Attachments (0)

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Non-current Financial Asset Acquisition

Signing agreement with Whirlpool EMEA S.p.A for the purchase of share of Indesit International JSC and Whirlpool RUS LLC.

Related Companies

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Related Funds

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Turkish

English

oda_NoncurrentFinancialAssetAcquisitionAbstract|

Noncurrent Financial Asset Acquisition

oda_UpdateAnnouncementFlag|

Update Notification Flag

Hayır (No)

oda_CorrectionAnnouncementFlag|

Correction Notification Flag

Hayır (No)

oda_DateOfThePreviousNotificationAboutTheSameSubject|

Date Of The Previous Notification About The Same Subject

oda_DelayedAnnouncementFlag|

Postponed Notification Flag

Hayır (No)

oda_AnnouncementContentSection|

Announcement Content

oda_BoardDecisionDateForAcquisition|

Board Decision Date for Acquisition

27/06/2022

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

Indesit International JSC ve Whirlpool RUS LLC

Indesit International JSC and Whirlpool RUS LLC

oda_FieldOfActivityNoncurrentFinancialAssetWhoseSharesWereAcquired|

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

Rusya'da beyaz eşya ürünlerinin üretimi ve Rusya, Kırgızistan, Tacikistan, Türkmenistan, Özbekistan, Ermenistan, Gürcistan, Azerbaycan, Kazakistan, Belarus ve Moğolistan'da ("İlgili Ülkeler") bu ürünlerin satışı ve pazarlaması

Production of white goods in Russia and sales and marketing of these goods in Russia, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Armenia, Georgia, Azerbaijan, Kazakhstan, Belarus and Mongolia ("Relevant Countries")

oda_CapitalOfNoncurrentFinancialAsset|

Capital of Noncurrent Financial Asset

Indesit JSC - 1.664.165.000 Ruble, Whirlpool LLC - 4.340.000 Ruble

oda_AcquirementWay|

Acquirement Way

Satın Alma (Purchase)

oda_DateOnWhichTheTransactionWasWillBeCompleted|

Date on which the Transaction was/will be Completed

Kapanış koşullarının 23 Eylül 2022 tarihine kadar yerine getirilmemesi halinde sözleşme feshedilmiş sayılacaktır.

If the closing conditions will not be fulfill until 23 September 2022, agreement will be terminated.

oda_AcquisitionConditions|

Acquisition Conditions

Diğer (Other)

oda_DetailedConditionsIfItIsATimedPayment|

Detailed Conditions if it is a Timed Payment

Aşağıda açıklanmaktadır.

Explained below.

oda_NominalValueOfSharesAcquired|

Nominal Value of Shares Acquired

Indesit JSC- 1.664.165.000 Ruble, Whirlpool LLC - 4.340.000 Ruble

Indesit JSC - 1.664.165.000 Ruble, Whirlpool LLC - 4.340.000 Ruble

oda_PurchasePricePerShare|

Purchase Price Per Share

Fiyatlama mekanizması aşağıda açıklanmaktadır.

Price mechanism is explained below.

oda_TotalPurchasingValue|

Total Purchasing Value

Tutarın hesaplanma ve ödeme yöntemi aşağıda belirtilmiş olup, satın alma bedelinin en fazla 220 milyon Euro olması beklenmektedir.

Calculation and payment method of purchasing value are explained below, which is estimated to be capped at 220 million Euro depending on performance calculation as of closing.

oda_RatioOfNewSharesAcquiredToCapitalOfNoncurrentFinancialAsset|

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

Indesit JSC %100, Whirlpool LLC %100

Indesit JSC 100%, Whirlpool LLC 100%

oda_TotalRatioOfSharesOwnedInCapitalOfNoncurrentFinancialAssetAfterTransaction|

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

Indesit JSC %100, Whirlpool LLC %100

Indesit JSC 100%, Whirlpool LLC 100%

oda_TotalVotingRightRatioOwnedInNoncurrentFinancialAssetAfterTransaction|

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

Indesit JSC %100, Whirlpool LLC %100

Indesit JSC 100%, Whirlpool LLC 100%

oda_RatioOfNoncurrentFinancialAssetAcquiredToTotalAssetsInLatestDisclosedFinancialStatementsOfCompany|

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

Beklenen maksimum satın alma bedeli üzerinden yaklaşık %3,9

As per expected maximum payment; 3,9%

oda_RatioOfTransactionValueToSalesInLatestAnnualFinancialStatementsOfCompany|

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

Beklenen maksimum satın alma bedeli üzerinden yaklaşık %5,9

As per expected maximum payment; 5,9%

oda_EffectsOnCompanyOperations|

Effects on Company Operations

İlgili Ülkeler'deki büyüme hedefimize katkı sağlaması beklenmektedir.

Expected to contribute our growth targets in Relevant Countries

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

Whirlpool EMEA S.p.A.

oda_IsCounterPartyARelatedPartyAccordingToCMBRegulations|

Is Counter Party a Related Party According to CMB Regulations?

Hayır (No)

oda_RelationWithCounterPartyIfAny|

Relation with Counter Party if any

oda_AgreementSigningDateIfExists|

Agreement Signing Date if Exists

27/06/2022

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.

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|

Arçelik A.Ş. tarafından Rusya, Kırgızistan, Tacikistan, Türkmenistan, Özbekistan, Ermenistan, Gürcistan, Azerbeycan, Kazakistan, Belarus ve Moğoliastan'da ("İlgili Ülkeler") faaliyet gösteren Indesit International JSC ("IndesitJSC") ve Whirlpool RUS LLC ("Whirlpool LLC") hisselerinin tamamının alımı için Whirlpool EMEA S.p.A. ("Satıcı") ile Hisse Satın Alma Sözleşmesi ("Sözleşme") imzalanmıştır.

İşlemin tamamlanması, Sözleşme'de yer alan yasal izinlerin alınması ile devam eden incelemelerde önemli olumsuz etkisi olabilecek bir konunun gündeme gelmemesi dâhil kapanış koşullarına bağlıdır. Kapanış günü itibariyle, Arçelik, Indesit JSC ve Whirlpool LLC şirketlerinin paylarının tamamına doğrudan, bunların %100 oranında bağlı ortaklığı olan Whirlpool Kazakhstan LLP paylarına ise dolaylı olarak sahip olacaktır. Satın alıma konu şirketlerin Lipetsk'de soğutucu ile çamaşır makinası üretimi yapılan toplamda 2,8 milyon adet kapasiteli üretim tesisleri ve yaklaşık 2.500 çalışanı bulunmaktadır.

Satın alım bedeli, kapanış bilançosundaki maddi duran varlıklar, net işletme sermayesi gibi büyüklüklere dayalı olarak belirlenen üst sınırı aşmayacak olup, şirketlerin mevcut finansal bilgileri esas alındığında ilgili üst sınır yaklaşık 220 milyon Euro olarak tahmin edilmektedir. Satın alım bedeli, kapanışı takip eden on yıl süreyle yıllık olarak hesaplanacaktır. Yıllık ödemeye esas tutarlar performansa bağlı olarak ve belirli yükümlülüklerin düşülmesi ile hesaplanacak, yasal izinler ile onaylara bağlı olmak üzere, dağıtılabilir kaynakların bulunması ve yasal engellerin bulunmaması gibi koşullara tabi olarak tahakkuk ederek ödenecektir. Onuncu yıl itibariyle hesaplanan fakat henüz koşulların sağlanamaması nedeniyle tahakkuk etmemiş hisse alım bedeli, bu tutarla sınırlı olmak üzere ilave 5 yıl sürede koşulların oluşması halinde tahakkuk ederek ödenecektir.

Ayrıca, devralınan şirketler ile birlikte transfer olacak "Stinol" markasına ek olarak, "Indesit", ve "Hotpoint" grubu markaları da devralınan şirketler tarafından İlgili Ülkeler'de kullanılacak olup, ilgili sözleşmelerin Kapanış'ta imzalanması öngörülmektedir.

Konuyla ilgili önemli gelişmeler yatırımcılarımızla paylaşılacaktır.

A Share Purchase Agreement ("the Agreement") was signed by Arçelik A.Ş. with Whirlpool EMEA S.p.A ("Seller") for the purchase of the entire issued share capital of Indesit International JSC ("Indesit JSC") and Whirlpool RUS LLC ("Whirlpool LLC"), which operate in Russia, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Armenia, Georgia, Azerbaijan, Kazakhstan, Belarus, Mongolia ("Relevant Countries").

The transaction is subject to fulfillment of the conditions specified within the Agreement, including the regulatory approvals and there being no material adverse findings during due diligence. As of closing date, all shares of Indesit JSC and Whirlpool LLC will be directly owned, and their wholly owned subsidiary Whirlpool Kazakhstan LLP's shares will be indirectly owned, by Arçelik. The acquired companies own facilities in Lipetsk with a total capacity of 2.8 million units, where refrigerators and laundry products are produced, and have approximately 2,500 employees.

The cost of the acquisition will be no greater than an amount to be determined based on the figures within the closing balance sheet, including fixed assets and working capital, which based on the current financial information of the companies is expected to be approximately 220 million Euro. The amount of the acquisition cost for each year will be calculated and paid annually over a period of ten years. Annual calculations will be based on performance and deduction of defined liabilities and subject to regulatory authorization or confirmation accrued and paid as the acquisition cost based on the availability of distributable reserves, and the legal restrictions, if any, existing at the time the payment is due. In the event that as of the tenth year there remains any calculated amounts that have not yet been accrued and paid as the conditions have not been fulfilled. the remainder will be accrued and paid should the conditions be fulfilled over the next 5 years.

In addition to "Stinol" brand which will be transferred with the acquired companies, "Indesit", and "Hotpoint" brands will be used by acquired companies in the Relevant Countries and the relevant agreements are expected to be signed at the closing date.

Further material developments will be shared with our investors.

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.

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