Is Zorlu AVM being sold? The holding company has issued a statement

Recent economic policies implemented in Turkey have made it difficult for companies to access financing, and Zorlu Holding has been among the major conglomerates affected by this situation. Zorlu Holding CEO Ömer Yüngül announced that 2 thousand people would be laid off at Vestel. It was stated that this decision was aimed at increasing operational efficiency.

While it was noted that Zorlu Holding is under a debt burden of 4.9 billion dollars, claims emerged that Zorlu AVM had been put up for sale for 1.5 billion Euros. However, the company stated in its announcement that these claims do not reflect the truth.

The statement said, "Our company's financial debt repayment obligations are being fulfilled fully and on time. The layoffs mentioned in the news are limited to increasing operational efficiency in line with our company's strategic goals and are being carried out within the framework of legal regulations."

SALE OF COMPANY ASSETS IS NOT ON THE AGENDA

Zorlu Holding announced that the sale of company assets is not on the agenda and that there is no board of directors decision taken on this matter. The company stated that it is closely following opportunities for the American market and that negotiations for potential collaborations are ongoing. It was stated that developments would be shared with the public in a timely manner.

News Source: 12punto