Vestel Elektronik, Anadolu shares jump on TOGG stake sale
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)
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