Doğan Holding and Burda GmbH, the major shareholder of Doğan Burda Magazine Group, have signed a share purchase agreement to sell all shares in the company for a total consideration of $10 million.
In Doğan Burda, Doğan Holding holds 38.22 percent, or 7.47 million shares. Burda GmbH is the 38.09 percent shareholder, amounting to 7.45 million shares. 23.69 percent of the company’s shares belong to other shareholders.
According to a statement made by Doğan Burda to KAP, a total of 76.30% of the shares, including 38.22% in Doğan Holding and 38.09% in Burda GmbH, are owned by Alt Capital Holding A.Ş., Re-Pie Portföy Yönetimi Inc., Altun Capital venture capital investment fund and Re-Pie Yatırım Holding A.Ş. and a share transfer agreement was signed between the two parties today.
“Based on the aforementioned share transfer agreement, the purpose is to transfer to the Company all of the shares in the capital of Dergi Pazarlama Pazarlama ve Ticaret A.Ş., held 56% by Doğan Holding and 44% by Burda GmbH, according to the valuation amount set out in the appraisal report,” the statement said.
The transaction will be completed upon notification to competition authorities and understanding that all closing conditions have been met.
Dogan Holding shares were trading at 16.04 liras, down 1.9 percent from 12.02 liras, while Dogan Burda shares were trading at 242.3 liras, down 1.38 percent. The BIST-100 index rose 0.6 percent.
