Koç Holding A.S. (IBSE:KCHOL) agreed to acquire 80% stake in Kemer Medical Center Özel Saglik Hizmetleri Turizm ve Ticaret A.S. from GTR Credit Europe B.V., Güngör Fatih Çaylak, Ata Demirel and 7 other real persons for an enterprise value of ?110 million on January 3, 2024. The consideration is paid in cash. It has been agreed that the purchase price shall be determined based on an enterprise value of ?110 million which will be subject to net debt and working capital adjustments.

The Purchase Price will be finally determined upon finalization of the financial statements of KMC dated December 31, 2023. It is also intended that a shareholders' agreement in relation to the management of KMC, the principles regarding the remaining shares and rights and obligations of its shareholders will be executed between our Company, Mr. Ata Demirel and Mr. Güngör Fatih Çaylak who will remain as 20% shareholders in KMC upon Completion. Completion is subject to fulfilment of certain closing conditions, including obtaining approval of the Competition Authority.

If closing does not take place until April 30, 2024; parties will have the right to terminate the agreement.