Disclosures

Türkiye Wealth Fund (TWF) has signed a $100 million Murabaha financing agreement with Sharjah Islamic Bank (SIB). This 3-year term agreement marks the first Islamic finance transaction for Türkiye Wealth Fund.

Türkiye Wealth Fund (TWF) entered the international bond market on February 7, 2024, following a series of fixed income investor meetings commencing on 5 February 2024. The issuance, structured under Reg S for sale to non-US investors with a 5-year maturity, was priced at 8.375%.

As per its mandate to reinforce the improvement and deepening of financial markets in Türkiye, Türkiye Wealth Fund (TWF) completed the increase of core capitals of three state-owned banks, T.C. Ziraat Bankası A.Ş., Türkiye Halk Bankası A.Ş., and Türkiye Vakıflar Bankası T.A.O by a total of 111.7 billion Turkish lira in an action to strengthen the capital structures.

On March 16th 2023, Türkiye Wealth Fund (TWF) signed a EUR 790 million two-year term facility agreement with the participation of 11 banks from 9 countries.

A closed-market acquisition of Kardemir Karabük Demir Çelik Sanayi ve Ticaret AŞ Group A shares from Karadökmak Karademir Döküm Makine Sanayi ve Ticaret AŞ, at the nominal value of 31.999.559,50 TL, and from Karçel Kardemir Çelik Yapı İmalat Sanayi ve Ticaret A.Ş.’nin, at the nominal value of 18,294,787.26 TL, was completed. The transaction was based on the closing stock market price of 13.05 TL per share of Monday, 5 December 2022.

Per its mission to invest in strategic industries in Türkiye, the Türkiye Wealth Fund (TWF) had signed a Share Purchase Agreement (SPA) to acquire 55% shares of Türk Telekomünikasyon A.Ş. (Türk Telekom) from LYY Telekomünikasyon A.Ş. (LYY), as announced in the statement dated March 10th, 2022.

The Türkiye Wealth Fund (TWF) and ADQ have announced a $300 million tech fund to invest in and grow Türkiye’s technology ecosystem.

Per its mission to invest in strategic industries in Türkiye, Türkiye Wealth Fund (TWF) has signed a Share Purchase Agreement (SPA) to acquire 55% shares of Türk Telekomünikasyon A.Ş. (Türk Telekom) from LYY Telekomünikasyon A.Ş. (LYY).

Türkiye Wealth Fund (TWF) has successfully completed the process of increasing the core capitals of Ziraat Bank, Halkbank, and VakıfBank as well as providing subordinated loans to Development and Investment Bank of Türkiye, Ziraat Katılım Bank, and Türkiye Emlak Katılım Bank. The TRY 51.5 billion-worth injection demonstrates our faith in Turkish economy and enables public banks to access essential resources to support their investments.

Per its mandate to reinforce the improvement and deepening of the financial markets, Türkiye Wealth Fund (TWF) has started the process of increasing the core capitals of Ziraat Bank, Halkbank, and VakıfBank as well as provide subordinated loans to Development and Investment Bank of Türkiye, Vakıf Katılım, and Türkiye Emlak Katılım Bank. With the capital injection, TWF and TWF Market Stability and Balance Fund (PDIF) aim to strengthen the public and participation banks towards the volatility at global markets, support their growth strategies and increase their synergy.

Türkiye Wealth Fund Management Co (TWF) is in talks with LYY Telekomünikasyon AŞ for the acquisition of 55% of Türk Telekomünikasyon AŞ (Türk Telekom) shares, where TWF is already a minority shareholder. Further developments will be shared with public in future.

Under the auspices of President Recep Tayyip Erdoğan and Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan, Türkiye Wealth Fund signed a series of Memorandum of Understanding (MoU) with Abu Dhabi Development Holding Company (ADQ) and AD Ports Group.

Türkiye Wealth Fund successfully completed EUR 1.25 billion syndicated loan with the participation of 14 banks from 11 countries across Asia, Europe, North America and the Middle East.

Turkey Wealth Fund (TWF) and Qatar Investment Authority (QIA) completed today the acquisition of 10% of the shares in Borsa İstanbul AŞ (Borsa Istanbul) by QIA following the signing of the Memorandum of Understanding (MoU) on 26 November 2020 between two parties. The transaction size of USD 200 million implied a total equity value of USD 2 billion.

Turkey Wealth Fund (TWF) and Qatar Investment Authority (QIA) signed a Memorandum of Understanding (MoU) to consider and finalise the potential purchase of 10% of Borsa İstanbul AŞ shares by QIA and their future collaboration in the governance of Borsa İstanbul.

The amendments to Turkcell’s Articles of Association, under which Turkey Wealth Fund becomes the company’s controlling shareholder, were approved at Turkcell’s Annual General Assembly Meeting held on October 21, 2020. Closing of the transaction occurred on October 22, 2020. Zafer Sönmez, Turkey Wealth Fund CEO, said: “With the vote of confidence we received at the General Assembly, Turkcell is now a crucial asset in TWF’s portfolio. Sustaining steady growth in this new era, we can be proud of Turkcell on the international stage.”

Turkey Wealth Fund (TWF) is pleased to announce that all necessary regulatory clearances have been obtained ahead of the proposed shareholder transactions in Turkcell İletişim Hizmetleri AŞ (Turkcell) (BİST: TCELL), (NYSE:TKC) which will see TWF acquire 26.2% of the shares of Turkcell and become its controlling shareholder.

With the aim to improve the savings base in the Turkish economy along with non-banking financial industry, and boost the insurance and pensions under the Turkey’s New Economy Program, the consolidation process of public insurance companies is completed right after the general assembly meetings.

Turkey Wealth Fund (TWF) has agreed to acquire 26.2% of the shares of Turkcell İletişim Hizmetleri AŞ (Turkcell) (BİST: TCELL, NYSE: TKC) by entering into a series of transaction agreements with, among others, Telia Company, LetterOne, Çukurova Holding and Ziraat Bank.

The International Forum of Sovereign Wealth Funds (IFSWF) released Investing for Resilience: IFSWF Annual Review 2019. IFSWF, a global network of sovereign wealth funds from nearly 40 countries, examined the equity investments of the funds and their preparedness for Covid-19.

Upon our announcement on May 11th, we have completed the process of increasing the core capitals of Ziraat Bank, Halkbank and VakıfBank with a total of TL 21 billion.

Per our mandate to reinforce the improvement and deepening of financial markets in Turkey and with the aim of strengthening the capital structures and adequacy of state-owned banks, we have started the process of increasing the core capitals of Ziraat Bank, Halkbank and VakıfBank with a total of TL 21 billion.

TVF Finansal Yatırımlar AŞ, TWF’s wholly owned subsidiary, has completed today the acquisition of Güneş Sigorta AŞ, Halk Sigorta AŞ, Ziraat Sigorta AŞ, Vakıf Emeklilik ve Hayat AŞ, Halk Hayat ve Emeklilik AŞ and Ziraat Hayat ve Emeklilik AŞ shares from public banks and other related parties.

According to the MoU signed this week, Sinosure will recommend relevant Chinese enterprises to TWF as the investors, contractors and financial institutions concerning projects especially in energy, petrochemicals and mining sectors addressing the current account deficit of Turkey. Sinosure will also consider providing insurance support up to USD 5 billion with respect to the financing activities.

Turkey Wealth Fund buys 20% stake at Platform...

Within the scope of public insurance companies’ consolidation project that was announced on December 15th, 2019, TVF Finansal Yatırımlar Anonim Şirketi, our wholly owned subsidiary, has agreed with Groupama Holding Filiales et Participations on the purchase of their stake in Güneş Sigorta Anonim Şirketi that correspond to 10% of the company shares.

A Turkish House is being established in the 50th year of the World Economic Forum Annual Meeting, also known as the Davos Summit.

The Turkey Wealth Fund purchased a 10 per cent stake in the European Bank for Reconstruction and Development (EBRD) shares today, increasing our share in Borsa Istanbul to 90.60 per cent, in line with the disclosures we had shared with the public in recent months.

The scope and details of the Turkey Logistics Master Plan, prepared by the Ministry of Transportation and Infrastructure and which includes the priorities of projects, investments and regulations to be implemented in the field of logistics in the next 30 years to become a regional logistics base and reach the export target of USD1 trillion in 2053, has been disclosed to the public.

Within the framework of the New Economy Programme, reforms were planned by the Ministry of Treasury and Finance in the insurance and private pension sector to expand the savings base of the Turkish economy and the non-banking financial sector. Within the scope of these reforms, the Insurance and Private Pension Regulation and Supervision Agency and Türk Reasurans A.Ş. were established.

The Turkey Wealth Fund will build a refinery and petrochemical plant in the Ceyhan district of Adana in an investment of about USD 10 billion in order to reduce the foreign trade deficit in petrochemicals and refining.

The Turkey Wealth Fund (TWF) initiated the process of buying services for licences to organize horse racing and accepting bets on horse races held in Turkey and abroad. Under the licenses held by the TWF, it is planned that services can be purchased in areas such as organizing horse races and accepting bets on horse races either in Turkey or abroad.

The bidding process carried out by the Turkey Wealth Fund for the games of chance which have until now been organized by the National Lottery Administration has been completed and the contract was signed today with the Sisal - Şans joint venture, which was the highest bidder.

The open bidding process has been completed for a 10-year service purchase contract based on revenue sharing for the organization of the Turkey Wealth Fund's National Lottery games. Sisal - Şans Joint Venture submitted the best offer on a net present value basis with a minimum turnover commitment of TRY9.3 billion for 2020 and a commission rate of 9.5 %, including dealer commissions.

Preparations for strengthening of the capital structures of the state-owned banks within the reform package Structural Transformation Steps 2019 shared with the public on April 10th 2019, within the scope of the New Economy Program announced by the Ministry of Treasury and Finance has been completed.

After the publication of the Communiqué Amending the Communiqué on Principles of Mutual Funds numbered III-52.1 (III-52.1.c) in the Official Gazette dated 12.03.2019 and numbered 30712, unsubstantiated reports regarding the sale of the Turkey Wealth Fund have emerged in the media.

Turkey Wealth Fund successfully completed the first syndication loan transaction amounting to EUR 1 billion with the participation of 10 banks from eight countries from Asia, Europe, North America and the Middle East under the coordination of ICBC and Citi.