ISTANBUL – Türkiye Assured Financial institution (IS:) AS (TGBD), along with different lenders, have reached an settlement for the restructuring of the money owed of Galataport Istanbul Liman Isletmeciligi ve Yatirimlari AS (“Galataport”) and Dogus Galataport Gayrimenkul Yatirimlari ve Ticaret AS (“Dogus Galataport “) ). This restructuring is in keeping with the Monetary Sector Debt Restructuring Regulation and associated laws.
As a part of the restructuring settlement, the lending banks will purchase 49% of Galataport’s shares in proportion to the quantity of their loans. This transaction may also embody a three-year buyout proper for Dogus Galataport.
Garanti Financial institution is anticipated to acquire a 12.28% stake in Galataport by the top of 2024. The financial institution is dedicated to informing the general public of any important developments relating to this matter.
This announcement relies on a press launch and is meant to offer factual info with none endorsement of claims. It displays the present actions taken by the events concerned primarily based on the knowledge disclosed. Additional particulars can be shared with the funding neighborhood as they turn into accessible.
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