Turkish Bank May Qualify for Katılımevim Offer Exemption

Türkiye Emlak Katılım Bankası said the Capital Markets Board has told it that it may be exempt from making a mandatory offer to Katılımevim Tasarruf Finansman shareholders if it acquires shares that give it control. The bank reported the update in a KAP filing.

The exemption has not been confirmed as granted, and the filing does not say the bank has completed the share acquisition. Other permits, approvals and legal procedures remain ongoing, the bank said. If granted, the exemption would mean the bank would not have to make a required offer to buy shares from other shareholders after acquiring control. The filing gives no timetable or acquisition terms.