REG - Commercial Bk Qatar - Exercise of Put Option in Alternatifbank A.S. <Origin Href="QuoteRef">COMB.QA</Origin>

Commercial Bank PSQCAnnouncement

19/07/2016 12:30

RNS Number : 6086E
Commercial Bank of Qatar (Q.S.C.)
19 July 2016
Announcement Regarding Exercise of Put Option at Alternatifbank A..
Doha 18 July 2016 : The Commercial Bank ("Commercial Bank"), holding 75%shares of Alternatifbank A., Turkey ("ABank")received a notice from Anadolu Endstri Holding A.. ("AEH"), to exercise the put option with respect to 192,500,000 registered shares held by AEHin ABank and accounting for 25% of shares in ABank under the Shareholders' Agreement signed with Commercial Bank on 18 July 2013.Share sale value has been calculated at USD 222.5m as of the date 18 July 2016 based on the base price method specified in the Shareholders' Agreement and the notice on this matter has been advised to Commercial Bank as of the aforementioned date. Completion of the transaction and procedures will be subject to regulatory approvals in Qatar and Turkey.
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