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Chicken company Banvit announces sales of 79.5 percent share to TBQ Foods completed

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BANVIT  which is the leader of the Turkish poultry industry has made public that the deal made in January to transfer 79.5 percent of the shares to TBQ Foods (a partnership of Brazil and Qatar) was been completed and the transfer price of the shares was 12.07 Turkish Liras per share

According to the statement made to the KAP, the transfer price was determined as $ 3.39 per share. This amount corresponds to 12.07 pounds according to the official rate on the date of transfer. The total turnover of the shares is 269.2 million dollars.

The takeover price is 3.6 percent above the yesterday’s closing price of 11.65 liras.

TBQ Foods owned by BRF (Brazilian chicken producer, 60 %) and Qatar Holding (of Qatar Sovereign Wealth Fund, 40 %) is to make an application to the Capital Markets Board to make a mandatory purchase after TBQ Foods transfer process.

BANVIT Company has been operating since 1968 and is the leader of the Turkish poultry industry.

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