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    AGHOL.E — Ag Anadolu Grubu Holding News Story

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    Vestel Elektronik, Anadolu shares jump on TOGG stake sale

    Picture of Ag Anadolu Grubu Holding logoAg Anadolu Grubu Holding
    Today 08:26
    BUZZ-Vestel Elektronik, Anadolu shares jump on TOGG stake sale
    ** Shares in Turkey's Vestel Elektronik VESTL.IS and Anadolu Group Holding AGHOL.IS rise 10% and 5%, respectively, after agreements to sell their stakes in Turkey's electric car maker TOGG
    ** Consumer electronics and home-appliance manufacturer Vestel Elektronik sells its 23% stake in TOGG to Turkey Wealth Fund for €184 million
    ** Holding company Anadolu Group sells its 23% stake in TOGG for €184 million in cash, with the Turkish wealth fund buying 12% and Turkcell TCELL.IS 11%
    ** Brokerage Global Yatirim views the cash inflow as mildly positive for Anadolu Group and positive for Vestel Elektronik, given its contribution to Vestel's funding needs and debt repayment
    ** Vestel Elektronik's stock hit the 10% ceiling on Borsa Istanbul stock exchange and is the best performer on Turkey's main BIST 100 .XU100 index

    (Reporting by Arda Dipova)
    ((arda.dipova@thomsonreuters.com))

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