Major sale by Aydın Doğan: He has completely exited the media sector he entered 45 years ago

Doğan Burda Dergi Grubu, established in 1988 as a partnership between Doğan Holding and the German Burda group, has been sold to an investment fund group for 10 million dollars.

Doğan Burda Dergi submitted the notification regarding the sale to the Public Disclosure Platform (KAP).

AYDIN DOĞAN HAS COMPLETELY EXITED THE MEDIA SECTOR

According to the report in T24, with the sale of Doğan Burda—Turkey's largest magazine group, which publishes 58 magazines including weekly, monthly, periodic, and special-interest titles, as well as licensed publications—Aydın Doğan and Doğan Holding have completely exited the media sector they entered 45 years ago.

While the Doğan Media Group, which included the CNN Türk and Kanal D channels, the Hürriyet, Posta, and Fanatik newspapers, as well as the Doğan News Agency and D Smart, was sold to Demirören Holding in March 2018, the Doğan Burda Dergi Grubu, which was founded on July 21, 1988, and is a publicly traded company with shares listed on Borsa Istanbul, had been excluded from that sale.

STATEMENT MADE TO KAP

The statement made to KAP by Doğan Burda Dergi Grubu, chaired by Çağlar Göğüş with Cem Başar serving as General Manager/CEO, is as follows:

"Regarding the 19,559,175 Turkish Lira paid-in capital of our company; a 'Share Transfer Agreement' dated 08/07/2024 has been concluded between Doğan Holding and Burda GmbH and the Buyers for the sale (Transaction) of a total of 76.30% of the shares (14,924,590 shares), consisting of the 38.22% stake held by Doğan Şirketler Grubu Holding A.Ş. (Doğan Holding) (7,474,920 shares) and the 38.09% stake held by Burda GmbH (7,449,670 shares), for a total price of 10,000,000 US Dollars (Sale Price), subject to certain adjustments, to Alt Capital Holding A.Ş. (4,791,998 DOBUR shares), Re-Pie Portföy Yönetimi A.Ş. Altun Capital Venture Capital Investment Fund (3,422,856 DOBUR shares), Re-Pie Yatırım Holding A.Ş. (5,476,569 DOBUR shares), and Re-Pie Portföy Yönetimi A.Ş. (1,233,167 DOBUR shares) (Buyers), as a result of negotiations.

Based on the aforementioned 'Share Transfer Agreement'; it is aimed to transfer all shares representing the capital of Dergi Pazarlama Planlama ve Ticaret A.Ş., in which Doğan Holding holds a 56% stake and Burda GmbH holds a 44% stake, to our Company at the value to be appraised in the valuation report.

It is anticipated that the Transaction will be completed upon the understanding that all closing conditions, including but not limited to the notification to be made to the Competition Authority, have been fulfilled.

The disclosure regarding the sale of the aforementioned shares was postponed, taking into account that making a special case disclosure could harm the legitimate interests of our Company.

Respectfully announced to our shareholders and the public."

News Source: 12punto