The sale of Ortadoğu Antalya Liman İşletmeleri A.Ş. has been completed

Global Yatırım Holding A.Ş informed about the sale of Ortadoğu Antalya Liman İşletmeleri A.Ş. (Port Akdeniz).

In the statement made to the Public Disclosure Platform (KAP), it was stated: “With our material disclosure dated December 7, 2020, with the sale of our company's indirect subsidiary Global Ports Holding Plc (GPH) Ortadoğu Antalya Liman İşletmeleri A.Ş. (Port Akdeniz) We have announced that the Competition Authority approval application of QTerminals has been approved by the Competition Authority within the scope of the share purchase and sale agreement signed with QTerminals WLL (QTerminals), the commercial port operator based in Qatar, on 21.10.2020. GPH assures that all the prerequisites for the sale transaction have been fulfilled, the necessary legal approvals have been obtained, and as a result, Port Akdeniz's company value (Enterprise Value-EV) of 1.033.158.000 TL (US $ 140 million) previously disclosed to QTerminals. ) to our company that the sale was completed on 25.01.2021. As a result of the adjustments made according to the net debt position of Port Akdeniz and debt-like items, the sales price was realized as TL 849.837.111.

QTerminals has paid 764.853.400 TL of the total amount in cash, and the balance will pay 84.983.711 TL in the last quarter of 2021 (which will be finalized by subjecting the CBRT foreign currency USD buying rate on the date of payment). With the said payment to be made by QTerminals in the last quarter of 2021, GPH will pay the expenses related to the sales transaction after the full sale price is obtained. The TL values ​​given above regarding the sales transaction have been calculated over the CBRT's foreign exchange US dollar buying rate of 25 dated January 2021, 7,3797. With the completion of the sales transaction of Port Akdeniz, GPH's cruise focus has increased in line with its strategy. Although cruise operations continue to be significantly affected by the Covid-19 crisis, cruise tourism remains important in the long term. It is encouraging for the industry to return as cruise companies continue to report strong reservations for 2021.