Key Developments: Koc Holding AS (KHOLY.PK)
30.04USD
24 May 2013
$0.27 (+0.91%)
$29.77
$30.04
$30.04
$29.60
92,185
19,045
$33.04
$14.82
Latest Key Developments (Source: Significant Developments)
Allianz SE Buys Yapi Kredi Sigorta For $883 Million From Koc Holding AS And UniCredit SpA's Yapi ve Kredi Bankasi AS; Dai-ichi Life Insurance Co Ltd, Zurich Insurance Group AG Were In Race-Reuters
Reuters reported that Allianz SE agreed to buy insurance business Yapi Kredi Sigorta A.S. from Turkish lender Yapi ve Kredi Bankasi AS to secure a bigger slice of a fast expanding market. The net purchase price for Yapi Kredi's 93.9% stake in Yapi Kredi Sigorta was TRY1.60 billion ($883 million). After closing of the deal, Allianz will make a mandatory tender offer for the remaining 6.1% stake. Yapi Kredi will retain a 20% stake in Yapi Kredi Emeklilik, the life and pension subsidiary of Yapi Kredi Sigorta. Under a so-called bancassurance agreement over 15 years, Allianz also gets the right to sell insurances through Yapi Kredi's network of bank branches. Yapi Kredi Bank, owned by Turkish group Koc Holding AS and Italy's UniCredit SpA, had said on Tuesday that talks were continuing on a sale of its insurance business after sources told Reuters that Allianz had agreed to buy it. The sources said at the time that Japan's Dai-ichi Life Insurance Co Ltd and Zurich Insurance Group AG had also been in the race for Yapi Kredi Sigorta. Full Article
Allianz SE To Buy Koc Holding AS And UniCredit SpA's JV Yapi Kredi Sigorta AS For Nearly EUR950 Million; Dai-ichi Life Insurance Co Ltd And Zurich Insurance Group AG Also Had Been In The Race-Reuters
Reuters reported that Allianz SE has agreed to buy Turkish insurerYapi Kredi Sigorta AS's core insurance arm and a majority stake in its pension unit for nearly EUR950 million ($1.2 billion). The deal was expected to be announced in the coming days. Japanese company Dai-ichi Life Insurance Co Ltd and Zurich Insurance Group AG had also been in the race for Yapi Kredi Sigorta, a joint venture (JV) between Turkish group Koc Holding AS and Italian bank UniCredit SpA. Full Article
Koc Holding AS Announces Dividend Payment For FY 2012
Koc Holding AS announced that its Board of Directors has recommended the distribution of gross TRY 0.18700000 per share and net TRY 0.1643945 per share, as cash dividends for the fiscal year 2012. Full Article
Koc Holding AS Announces Dividend Payment For FY 2011
Koc Holding AS announced that its Board of Directors has recommended the distribution of a total of TRY 306 million, equivalent to gross TRY 0.126701 per share and net TRY 0.110414 per share, as cash dividends for the fiscal year 2011. The proposed dividend distribution date is April 20, 2012. Full Article
Koc Holding A.S. Acquires Stake In AES Entek Elektrik Uretimi A.S.
Koc Holding A.S. announced that it has acquired a total of 24.81% stake in AES Entek Elektrik Uretimi A.S. (AES Entek) through buying shares from Temel Ticaret A.S. (8.39%), Aygaz A.S. (8.39%), Mogaz Petrol Gazlari A.S. (3.27%) and Koc family members (4.90%) for a total of USD 74,784,069.12. Full Article
Vodafone Group Plc's Vodafone Turkey To Acquire Koc Holding A.S.'s Koc.Net
Vodafone Group Plc announced that Vodafone Turkey announced that it has agreed terms with the Koc Group to acquire Koc.net for a cash consideration of TRY30 million (GBP11 million). Koc.net provides fixed voice and data services to enterprise customers and will enable Vodafone Turkey to enter the ADSL market. The transaction is expected to complete in the fourth calendar quarter of 2011. Full Article
Update-Moody's assigns Baa3 issuer rating to Koc Holding and (P)Baa3 to notes; positive outlook
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