Closure of Process for Divestiture of YK Koray
On 15 May 2008, Yapı Kredi Bank (YKB) had announced the launch of the process jointly with Koray Group for the reorganisation of YKB’s shareholding in Yapı Kredi Koray Gayrimenkul Yatırım Ortaklığı A.Ş.* (Yapı Kredi Koray Real Estate Investment Company), including a possible divestiture. For this purpose, YKB and Koray Group had jointly appointed Rothschild Kurumsal Finansman Hizmetleri Limited Şirketi as the financial advisor.
Despite the level of interest shown by reputable local and international investors, YKB and Koray Group decided to close the process due to current adverse market conditions which have not permitted appropriate value expectations to be met.
Yapı Kredi Koray will continue to operate under the current shareholding structure.
(*) Yapı Kredi Bank holds 30.45% of the share capital of Yapı Kredi Koray Real Estate Investment Company while Koray Group holds 25%.
İstanbul, 4 November 2008.
Enquiries: Yapı Kredi Investor Relations
Tel: (90) (212) 339 7647
Email: yapikredi_investorrelations@yapikredi.com.tr
Yapı Kredi / 04 Nov 2008