Offer for Garanti REIT
Offer for Garanti REIT
On October 27th 2006, GE Real Estate Europe SAS, a subsidiary of General Electric Capital Corporation and Doğuş Holding A.Ş. together submitted a purchase offer for Garanti Bank’s stake of 1,475,410 “A” type shares and 36,147,535 “B” type shares in Garanti Gayrimenkul Yatırım Ortaklığı A.Ş. (Garanti REIT) at YTL 1.928 per share. The offer also stated that an application to the Capital Market Board (CMB) for a tender call of the rest of the shares that are publicly traded at the offer price will be made. The offer will be valid until November 06, 2006 to be evaluated by the Bank’s management for a decision upon which an announcement will be made.