Yapı Kredi Bankası receives regulatory approval for Yapı Kredi Portföy share transfer

Yapı Kredi Bankası has announced that the Turkish Competition Board has granted permission for the transfer of shares in its subsidiary, Yapı Kredi Portföy Yönetimi A.Ş. (YKP), to AZ International Holdings S.A., a member of the Azimut Group.

The transaction involves the transfer of Yapı Kredi Bankası’s 12.65% stake and Yapı Kredi Yatırım Menkul Değerler A.Ş.’s 87.32% stake, alongside shares held by other shareholders. Following the transfer, a distribution agreement has been planned to allow Yapı Kredi Bankası to distribute investment products managed by Yapı Kredi Portföy for a period of 15 years.

The process is not yet complete. Further requirements must be met to finalize the deal, including obtaining approvals from the Capital Markets Board (SPK), signing the final distribution agreement, and securing an individual exemption decision from the Competition Board regarding the distribution contract.