Borusan Birleşik Boru Fabrikaları Sanayi ve Ticaret A.Ş. announced to the Public Disclosure Platform (KAP) that as of June 28, 2024, Borusan Holding A.Ş. (“Borusan Holding”) integrated with Borusan İstikbal Ticaret Türk A.Ş. (“Borusan İstikbal”) through acquisition, resulting in the dissolution of Borusan İstikbal. It was stated that Borusan Holding's indirect share in Borusan Birleşik Boru Fabrikaları Sanayi ve Ticaret A.Ş. (“Borusan Birleşik Boru”) remained at 70.63%. As Borusan Holding holds 100% ownership of Borusan İstikbal, the indirect share of Borusan Holding in Borusan Birleşik Boru does not change as a result of the integration, nor does the management control of Borusan.
The official statement made by the company is as follows:
"Our indirect shareholder, Borusan Holding A.Ş., has informed us that it has merged with Borusan İstikbal Ticaret Türk A.Ş. through acquisition as of June 28, 2024. The notification made by Borusan Holding A.Ş. regarding this transaction is provided below and attached:
"As of June 28, 2024, Borusan Holding A.Ş. (“Borusan Holding”) has integrated with Borusan İstikbal Ticaret Türk A.Ş. (“Borusan İstikbal”) through acquisition, resulting in the dissolution of Borusan İstikbal. Borusan Holding's indirect share in Borusan Birleşik Boru Fabrikaları Sanayi ve Ticaret A.Ş. (“Borusan Birleşik Boru”) is 70.63%. As Borusan Holding holds 100% ownership of Borusan İstikbal, the indirect share of Borusan Holding in Borusan Birleşik Boru does not change as a result of the integration. Furthermore, there has been no change in the management control of Borusan Birleşik Boru as a result of this integration."
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