ARY Holding A.Ş. announced a share purchase transaction in Tekfen Holding A.Ş. (TKFEN) on March 20, 2025, through the Public Disclosure Platform (KAP). According to the notification, ARY Holding acquired a total of 5,108,947 shares via an off-exchange transfer, raising its indirect ownership in Tekfen Holding to 21.24%.
Founders’ Families Exit, ARY Holding Acquires Shares
Tekfen Holding, founded and expanded by Feyyaz Berker, Ali Nihat Gokyigit, and Necati Akcagli, has undergone significant shareholder changes. Initially, the Akcagli family sold their shares to Can Kultur, a subsidiary of Can Holding.
Shortly after, the daughters of co-founder Ali Nihat Gokyigit also sold their shares. These shares were acquired by Ali Riza Yildirim’s company, ARY Holding. The KAP notification stated that ARY Holding’s share acquisition was valued at over 4 billion TL.
Can Kultur Objects to Share Transfer from Can Kultur to ARY Holding
Following the sale, tensions arose between Tekfen Holding’s new major shareholders. Can Kultur, which owns a 15.50% stake, objected to the transfer of the 19.86% stake from the Gokyigit family to ARY Holding.
Lawyers representing Can Kultur issued a notice to Tekfen Holding and its board members, arguing that ARY Holding is affiliated with Yildirim Holding, leading to market dominance concerns. They requested that ARY Holding not be accepted as a shareholder and that the share transfer be deemed invalid.
ARY Holding Continues to Increase Its Stake Despite Disputes
Just one day after these objections, ARY Holding announced that it had acquired an additional 5,108,947 shares through an off-exchange transfer. With this latest transaction, its ownership in Tekfen Holding A.Ş. reached 12.3589%.
Furthermore, since ARY Holding fully owns Ali Nihat Gokyigit Yatirim Holding A.Ş., which holds an 8.88% stake in Tekfen Holding, ARY Holding’s direct and indirect stake in Tekfen Holding A.Ş. reached 21.24% as of March 19, 2025, with a total of 78,596,887.90 shares.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök