Announcement regarding Sale of the shares representing the share capital of Commercial Bank “GarantiBank – Moscow” (AO)
Announcement regarding Sale of the shares representing the share capital of Commercial Bank “GarantiBank – Moscow” (AO)
This announcement is being made in connection with the sale of 1729 shares representing %99.94 of the share capital of Commercial Bank “GarantiBank- Moscow” AO, a subsidiary of our Bank established in Russia and the sale of 1 share representing %0.04 of the share capital of the same entity owned by Garanti Bilişim Teknolojisi ve Ticaret Anonim Şirketi (“Garanti Technology”). Our Bank and Garanti Technology have entered into a Share Purchase Agreement with Sovcombank, a bank operating in Russia. Share transfers under the agreement will be completed after obtaining the necessary regulatory approvals. Parties agreed to a purchase price of USD 40,455,201.00 subject to certain adjustments for the period until the completion of the share transfer formalities.
In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail .