As previously disclosed by our Company through public disclosures, negotiations were initiated for the acquisition by Tera Group companies of the shares of Pusula Finans Holding A.Ş., together with the shares constituting an economic entirety comprising its subsidiaries held by Pusula Finans Holding A.Ş. and its shareholders. It was subsequently announced to the public that the parties had reached an agreement on the principal commercial and financial terms of the contemplated share transfer transaction.
In light of certain recent news reports and developments that have come to public attention, it has been deemed necessary to make this disclosure in order to ensure that investors are provided with accurate and complete information regarding the process.
The developments in question that have come to public attention are independent of the legal personalities, operations and corporate structures of Pusula Finans Holding A.Ş. and the companies within its structure. Accordingly, we deem it necessary to inform our investors that such developments have not resulted in any change to Tera Group's strategic and financial assessment of the contemplated acquisition.
The assessment of the contemplated acquisition has been made on the basis of the areas of activity, corporate capabilities and financial infrastructure of Pusula Finans Holding A.Ş. and the companies within its structure, as well as their potential contribution to Tera Group's long-term growth strategy.
The contemplated transaction forms part of Tera Group's long-term strategy to expand and scale up its activities in capital markets, portfolio management, investment services, savings finance and other financial services, and to bring together different financial services under a strong and integrated structure.
In this context, there are no circumstances that would warrant associating developments that are independent of the legal personalities and operations of Pusula Finans Holding A.Ş. and the companies within its structure with the corporate structures of such companies or with the strategic and financial rationale underlying the contemplated acquisition.
The acquisition process is continuing in accordance with the agreement previously disclosed to the public. Completion of the transaction remains subject to obtaining the requisite approvals and authorizations from the relevant regulatory and supervisory authorities, as well as the satisfaction of the other closing conditions agreed upon by the parties.
There has been no change in Tera Group's long-term strategic approach to developing and diversifying its activities in the financial services sector and establishing a strong and integrated financial structure.
Any developments regarding the process that are required to be publicly disclosed will be communicated to our investors in accordance with the provisions of the Capital Markets Board's Communiqué on Material Events No. II-15.1.
Respectfully announced to the public and our investors.
In any discrepancy between the Turkish and English versions of this disclosure, the Turkish version shall prevail.