Fourth Week (19

9<
TABOGLU & DEMIRHAN
Newsletter
19 January– 25 January 2015
“ 4
Volume 14, Issue
cont’d.
CAPITAL MARKETS UPDATE S



Highlights
a. Capital Markets
Updates
b. Competition News
c. Banking Highlights
d. Privatization News
e. Energy Sector News

Aviva Sigorta, wh ich has previously
announced that squeeze out right will be
performed by Kibele B.V. due to holding
98.66% of the shares of the Company, has
announced that Oyak Yat irim Menku l
Degerler has been authorized to act as the
intermediary institution for the squeeze out
transaction. It has been further stated that
the remain ing shareholders, through their
intermediary institutions, may apply to
Oyak Yatirim Menkul Degerler until 18
March together with the application form.
Pursuant to the announcement in the Public
Disclosure Platfo rm, the board of directors
of Gubre Fabrikalari has authorized its
management to obtain the governmental
approvals
and
conduct
necessary
transactions for the amendment of its
articles of association regarding the increase
of the registered capital ceiling fro m TL 200
million to TL 1 b illion.
Pursuant to the announcement made by
Akis Gayrimenku l Yat irim Ortaklig i in the
Public Disclosure Platform, the board of
directors of the Company has decided to
apply to the Capital Markets Board and the
Ministry of Customs and Trade in order to
obtain the necessary approvals to increase
its registered capital ceiling fro m TL 200
million to TL 500 million and to amend
certain provisions of its articles of
association regarding the purpose of the
Co mpany, privileged capital markets
instruments, management of portfolio and
portfolio limitations, prohibitions regarding
managers, auditor, general assemblies and
appointment of pro xy.
As per the announcement of Dogus
Otomotiv made in the Public Disclosure
Platform, the Company has started
negotiations for the sale of its shares in
Krone Dogus Treyler Sanayi having a
nominal value of TL 35,520,000,
corresponding to 49% of the share capital,
to Fahrzeugwerk Bernard Krone Gmb H.
cont’d.

Pursuant to the dailies, Aselsan has
executed a memorandum of understanding
with
Eurojet, the manufacturer of
Eurofighter Typhoon’s EJ200 motor
systems. Through the memorandum of
understanding parties aim to cooperate in
software development with respect to
engine control systems, engine health
monitoring systems and EJ200 engine
programs.

As per the announcement of Global Yat irim
Holding made in the Public Disclosure
Platform, the Co mpany has sold its
5,000,000 shares owned by it in return for
TL 1.35 per share. Through this sale the
Co mpany holds 18.21% of its own shares.

Pursuant to the announcement made in the
Public Disclosure Platform, MLP Saglik
Hizmetleri has authorized Ak Yat irim
Menkul Degerler for the issuance of debt
instruments in the amount of TL 165
million to be sold to qualified investors.
COMPETITION NEW S

As per the announcement made in the
official website of the Competition Board,
the Board has granted its permission to the
transfer of 60% of the share capital of EgeTav Ege Tarim Hayvancilik Yatirim Ticaret
ve Sanayi by NH Foods Limited on the
grounds that it will not create or strengthen
competition in the related market as per the
Co mmuniqué No: 2010/4.

The Co mpetition Board has granted its
permission to the sale of minority shares of
Ates
Celik
Insaat
Taahhut
Proje
Muhendislik Sanayi ve Ticaret, a
manufacturer of steel construction and wind
power plant towers, equal to 8% of its share
capital to Gedik Girisim Sermayesi Yat irim
Ortakligi on the grounds that it will not
create or strengthen competition in the
related market as per the Co mmun iqué No:
2010/4.
cont’d.
Page 2
cont’d

PRIVATIZATION NEWS
As per the announcement made in the 
official website of the Co mpetition Board,
an application is made to the Board on 22
January 2015 regard ing the transfer of 50%
of the share capital of A lfarm A larko Leroy
Su Urunleri Sanayi ve Ticaret, a co mpany
active in wholesale of water p roducts,
corresponding to 417,750,000 shares owned
by Alarko Hold ing, Alsim Alarko Sanayi
Tesisleri ve Ticaret, Attas Alarko Turistik
Tesisler and Alamsas Alarko Agir Makina
Sanayii to LerØy Seafood Group ASA.
As per the tender announcements regarding
the privatization of Halk Sigorta and Halk
Hayat ve Emeklilik, subsidiaries of Halk
Bankasi, through block sale, the final
bidding date for the tenders is determined as
24 April 2015. Pursuant to the
announcement published in the Official
Gazette dated 19 January 2015, a total of
93.49% of the shares of Halk Sigorta and
90% of the shares of Halk Hayat ve
Emeklilik will be subject to a block sale.
The amount of the bid bond for each of the
tenders is determined as US$ 25 million.
BANKING HIGHLIGHTS

The aim of this weekly
newsletter is to highlight
mainly the regulatory
changes made by the
Turkish
Government
during the relevant week.
The content of this bulletin
is limited to those areas
Taboglu & Demirhan
advises its clients.
It
contains
a
general
summary of the changes
and the areas it covers are
broader. Thus, one should
not rely on it for specific
advice.
For further
information or advice
please contact Taboglu &
Demirhan, a full-service
law firm based in Istanbul.

Garanti Faktoring has authorized Garanti
Yatirim Menkul Kiy metler fo r the issuance
of discounted debt instruments in the
amount of TL 100 million with 88 days
maturity starting fro m 26 January 2015. The
book building process for the instruments
which will be sold to the qualified investors
is determined as 22-23 January 2015.

Isparta Sehir Hastanesi Yatirim ve Islet me, a
subsidiary of Akfen Insaat Turizm ve
Ticaret, has executed a three year non- 
refundable loan agreement with Turkiye Is
Bankasi on 22 January 2015 in the amount
of US$ 230 million with 15 year maturity.
The Company has executed the loan
agreement to finance the construction of
Isparta Sehir Hastanesi and supply of
products and services under the PPP method
with the Min istry of Health.

Pursuant to the announcement made in the
Public Disclosure Platform, Turkiye Is
Bankasi has paid its capital contribution 
undertaking due to the capital increase
realized within CJSC Isbank, the Banks’
subsidiary based in Russia, in the amount of
Ruble 3,040.
Pursuant to the announcement of the
General Directorate of State Airports
Authority made in the Official Gazette on 22
January 2015, the tender regarding the
transfer
of
operation
rights
of
Nevsehir/Kapadokya Airport through lease
which was previously extended to 23
January 2015 has been re-extended to a
future date.
ENERGY SECTOR NEWS
9 bids have been placed for the tender
regarding the construction of the hydro
technical structures including construction
of port and cooling systems of Akkuyu
Nuclear Po wer Plant in the amount of
approximately US$ 1 million. The winning
bidders of the tender will be announced until
15 February 2015. Russia will construct the
Akkuyu Nuclear Power Plant wh ich will
have an installed capacity of 4,800 MW
with an investment of US$ 20 million.
The Energy Market Regulatory Authority
has granted 18 licenses, 13 o f which are for
electricity market, 3 of which are for natural
gas market and the remain ing for oil and
LPG markets.
TABOGLU & DEMIRHAN
Attorneys at Law
Levent Cad. No. 9
1. Levent, 34330, Istanbul, Turkey
E-MAIL: [email protected]
www.taboglu.av.tr
PHONE: (212) 339 8800
FAX: (212) 339 8899