Arrest warrant had been issued: First statement from the company where Turgay Ciner is a partner

The investigation conducted into Can Holding brought Ciner Holding to the agenda as well, following the issuance of an arrest warrant for businessman Turgay Ciner the other day.

As reported by Gazete Oksijen, the London-based company WE Soda, in which Ciner is a shareholder, published a statement on its official website. The statement, which responds to the developments in Turkey, included the following remarks:

“WE Soda notes the ongoing legal investigation in Turkey regarding its shareholder (Turgay Ciner) and certain companies within the Ciner Group.

WE Soda does not play any role in the matters within the scope of the investigation, and we have not been requested to participate in the investigation. Our business operates independently of the companies involved in the investigation, and our operations in Turkey and globally have not been affected in any way.

WE Soda and the Ciner Group act in accordance with the highest management standards. We remind that the sales agreement for the Ciner Group media assets was signed in December 2024, conditional upon obtaining approval from the Turkish Competition Authority and other relevant Turkish state regulatory bodies. Following a three-month regulatory review, the sale was completed on April 24, 2025, after obtaining permission from the relevant Turkish authorities on March 20, 2025. The transaction was carried out in full compliance with the applicable legal and regulatory standards, as documented and approved at that time. It should also be noted that the Ciner Group has no connection or commercial relationship with the buyer group other than the sale of the aforementioned media assets.”

WE Soda is the company that brings together the soda ash production, which is the Ciner Group's largest activity, under its umbrella. Approximately 76 percent of Eti Soda in Turkey, 100 percent of Kazan Soda, and soda ash operations in the USA are under this company.

According to the UK's trade registry records (Companies House), the controlling shareholder of WE Soda is Kew Soda. According to the same records, the controlling shareholder of KEW Soda is Akkan Enerji Madencilik Denizcilik ve Gemi İşletmeciliği AŞ. According to official notifications in both the Turkish Trade Registry and Companies House, the controlling shareholder of all soda ash activities of the Ciner Group in Turkey and the UK is Turgay Ciner, who owns 100 percent of Akkan Enerji.

News Source: 12punto