The assembly of Petrokemija, where decisions on recapitalization were to be made today, was not held, and a new one has been scheduled for March 6, as learned from members of the supervisory board.
No majority owners appeared at the assembly.
For today’s canceled assembly, Yildirim proposed the issuance of new shares at a price of 1.0272 euros with a cash contribution of at least 70 million euros and a maximum of 140 million. This would raise the share capital from 55 million euros, depending on the response, to a level of 125 million to a maximum of 195 million euros.
The Turkish group Yildirim owns 54.52 percent of Petrokemija’s shares. The state and state companies hold 45.17 percent of the shares.
The president of the Yildirim group, Robert Yuksel, stated in the fall of 2022, prior to the acquisition of Petrokemija, that Yildirim was interested in purchasing shares of Petrokemija owned by the state.
Yildirim proposed to the government last September to buy shares from the state or for the state to participate in the recapitalization or allow Yildirim to carry out the recapitalization of Petrokemija alone.
If the state does not participate in the recapitalization, and Yildirim recapitalizes Petrokemija with at least 70 million euros, the Turkish group would acquire 80 percent ownership of Petrokemija.
