Strategic Investment Moves by European Investment Holding
European Investment Holding (AVHOL) has decided to sell all its shares in Ege Karma Kauçuk Sanayi ve Ticaret Anonim Şirketi. The company's shares, which have a total nominal value of 6,000,000 TL in its 100% subsidiary Ege Karma Kauçuk, will be transferred to Yusuf Kaya for a sum of 68,000,000 TL. A portion of the sale, amounting to 8,000,000 TL, will be received as an upfront payment, while the remaining 60,000,000 TL will be collected through 12 equal installments of 5,000,000 TL each, with the first payment scheduled for January 24, 2025, and the final payment set for December 24, 2025. The holding emphasized that there are no audit or capital partnership ties with Ege Karma Kauçuk. After this sale transaction, the company will no longer hold any shares in Ege Karma Kauçuk. European Investment Holding indicated that it will continue to broaden its operational scope by making new investment decisions following this sale. The proceeds from the sale are planned to be utilized in new projects.
Steps have been taken to establish two new companies European Investment Holding has decided to establish two new companies as part of its growth strategy in the energy sector. Firstly, a new company named ALS Renewable Energy A.Ş., which is 100% owned by its 100% subsidiary Avren Energy Industry and Trade Limited Company, will be set up with the aim of operating and acquiring solar energy facilities in Afyon. The capital of this new company is set at 20,000,000 TL, and necessary permits for the establishment process will be obtained.
The second initiative involves renewable energy investments based in Romania. A company named SUN EUROPELECTRIC INVEST S.R.L. with a capital of 50,000 euros will be established to invest in renewable energy projects in Romania, also fully owned by Avren Energy. The required legal procedures for this new company, located in Bucharest, Romania, will also be completed. European Investment Holding aims to strengthen its position in the energy sector with these new initiatives.