EBRD participation to Global Ports IPO
A Framework Agreement is signed by and between the European Bank of Reconstruction and Development ("EBRD"), Global Yatırım Holding A.Ş. and our Company Global Liman İşletmeleri A.Ş. (“Global Ports”) for the acquisition of a portion of the Global Ports' shares by EBRD during the initial public offering ("IPO") of Global Ports. According to this Framework Agreement EBRD will have the right to purchase up to 20% of the total offered shares in the IPO and the total amount invested will not exceed USD 60.000.000. The acquisition will be made at the IPO price. EBRD will nominate one independent member of the Board of Directors of Global Ports after the acquisition. According to the Action Plan agreed in the Framework Agreement, it is aimed to further enhance Global Liman's corporate governance principles and have full compliance with international best practices."
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