Goldman Sachs acquires 8.03% stake in Efor Yatırım

Goldman Sachs International has acquired 175 million shares of Efor Yatırım Sanayi Ticaret A. Ş., representing 8.03% of the company's total issued capital. The transaction was executed through Efor Capital Teknoloji Yatırımları A. Ş.

The deal utilizes a sophisticated financial structure known as a ‘call spread’ option, rather than a standard direct share sale. This mechanism allows Efor Capital to maintain the right to repurchase the shares in the future while providing the international investor with hedging capabilities. The shares involved are B-group shares that are not currently traded on the exchange, though the investor may apply to convert them into tradable types in the future.

This move is noted for its complexity, as the specific financial model used is relatively rare in the Turkish markets. The transaction is seen as a significant step for Efor Group in accessing global capital and a sign of international interest in the Borsa İstanbul markets.