Sabancı Holding signs deal to sell shares in CarrefourSA

ISTANBUL

Hacı Ömer Sabancı Holding has reached an agreement for the sale and transfer of its entire shareholding in CarrefourSA to Yeni Mağazacılık A.Ş., according to a statement released by the company.

Yeni Mağazacılık, through its A101 stores, operates in all 81 provinces of Türkiye.

Under the agreement, Sabancı Holding will sell all of its shares representing 57.12 percent of CarrefourSA’s share capital, with a nominal value of 72.99 million Turkish Liras. The transaction also includes the sale of shares held by CarrefourSA’s other major shareholder, Carrefour Nederland B.V., which owns 32.16 percent of the company with a nominal value of 41.10 million liras. In total, the deal covers shares corresponding to 89.28 percent of CarrefourSA’s share capital.

A share purchase agreement was signed on April 17.

According to the agreement, the final equity value will be determined based on a total enterprise value of $325 million, subject to adjustments for closing net debt and working capital, Sabanci Holding explained in a filing with Borsa Istanbul.

The completion of the share transfer is conditional upon the fulfilment of all closing requirements set out in the agreement, including approval from the Competition Authority.

Once the transaction is finalised, Sabancı Holding will no longer hold any shares in CarrefourSA, marking a full exit from the company.