One of the largest grocery chains in our country SHOCKcontinues its activities in the field of online grocery delivery, whose use has peaked especially with the pandemic period. If you wantannounced the acquisition of . An astonishing deal for the acquisition of the Istanbul-based company founded in 2018. fee paid. At work SHOCK – If you want purchase details!
ŞOK – İstegelsin purchase details – How much was paid?
This was announced via the Public Disclosure Platform (KAP). The cost of the agreement to ŞOK is 220 million TL. Apart from this, in the statement made, it was stated that the company value was determined as 244.9 Million TL, which is the midpoint of the value range of 190.0 Million TL and 303.3 Million TL, based on the average of the discounted cash flow and similar company multipliers methods.
Purchase transaction priceIt was determined as 220 Million TL by bargaining, including a 10 percent discount according to the midpoint of the company value range determined in the valuation report of Future Teknoloji Ticaret A.Ş. (Trade name İstegelsin) It was stated that a share purchase agreement was signed to purchase the shares corresponding to 100 percent of the paid capital from Future Star E-Ticaret A.Ş. in cash.
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The full KAP statement is as follows:
”According to the decision taken by the positive vote of the independent members at the meeting of our Board of Directors dated 16/04/2024 and numbered 2024/14;
In order to contribute to the development of our Company, which is one of the leading players in the food retail industry, in the e-commerce channel and to improve its capabilities, it purchased the shares corresponding to 100% of the paid capital of Future Teknoloji Ticaret A.Ş., which has a significant brand awareness with the İstegelsin brand in this field. For the acquisition, a valuation study was carried out by KPMG Management Consultancy Inc.
As a result of the valuation studies;
KPMG Management Consultancy Inc. According to the valuation report (valuation report) of ‘s valuation report dated 16.04.2024 and numbered 202401K12826979; Based on the average of discounted cash flow and similar company multiplier methods, it was determined as 244.9 Million TL, which is the midpoint of the value range of 190.0 Million TL and 303.3 Million TL.
The transaction price has been determined as 220 Million TL by negotiation, including a 10% discount based on the midpoint of the company value range determined in the valuation report; A share purchase agreement has been signed for the cash purchase of shares corresponding to 100% of the paid capital of Future Teknoloji Ticaret A.Ş. from Future Star E-Ticaret A.Ş.
As of the date of signing the share purchase agreement, Future Teknoloji Ticaret A.Ş. has no financial debts.
Since the said transaction may affect the investment decision and share value, until there is a concrete development between the parties, with the decision of the Board of Directors dated 26/01/2024 and numbered 2024/1, within the scope of Article 6 of the Capital Markets Board’s Special Circumstances Communiqué. It was postponed.”
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