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Ülker Bisküvi to attempt merger move

16 May 20232 min reading

Ülker Bisküvi will merge with its subsidiaries Biskot Bisküvi and Ülker Çikolata through acquisition. Ülker Bisküvi applied to CMB in an attempt to take over Ülker Çikolata and Biskot Bisküvi.

 

Ülker Bisküvi has decided to merge with its subsidiaries Biskot Bisküvi and Ülker Çikolata through acquisition. In the statement made by the company, it was stated that an application was made to the Capital Markets Board (CMB) after all the necessary procedures had been fulfilled and that there was no outflow of resources from Ülker Bisküvi within the scope of the merger.

The statement made by Ülker Bisküvi Sanayi AŞ to the Public Disclosure Platform (KAP) is as follows: "Biskot Bisküvi Gıda Sanayi (73.92 percent of which belongs to our company) and Ülker Çikolata Sanayi (91.67 percent of which belongs to our company), which are our domestic subsidiaries operating in the same sector (manufacturing) with our company, have been taken over with all their assets and liabilities, and it has been decided to merge under Ülker Bisküvi in order to increase corporate governance, efficiency and effectiveness, and reduce costs by continuing our activities in a more focused structure within our publicly traded company. The merger transaction will be realized on the basis of the financial statements dated 31/12/2022 prepared and independently audited in accordance with the relevant regulations of the CMB. Following the fulfillment of all necessary procedures of the merger transaction, it has been decided to apply to the CMB for the approval of the announcement text. Within the scope of this merger, there will be no outflow of resources (cash, etc.) from Ülker Bisküvi."


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