ISTANBUL — Goldman Sachs International has acquired 175 million shares in Efor Yatırım Sanayi Ticaret A.Ş. (EFOR), representing 8.03% of the company’s issued capital, in a structured transaction that is rarely seen in Türkiye’s capital markets.

The transaction, reflected in Central Securities Depository (MKK) records and clarified through disclosures to the Public Disclosure Platform (KAP), involves Efor Capital Teknoloji Yatırımları A.Ş., a company within EFOR’s controlling shareholder structure, as the counterparty.

Call Spread Structure Accompanies Share Sale

The deal goes beyond a conventional block share sale. The transfer of EFOR shares was accompanied by a call spread, a structured options strategy commonly used in international financial markets.

The structure allows Efor Group to access international financing sources, while giving Efor Capital the ability to manage transaction-related risks and retain the option to repurchase the shares at maturity.

Rare Structure in Türkiye

Structured transactions of this type are relatively common in developed financial markets but remain limited in number in Türkiye.

The participation of a global financial institution of Goldman Sachs International’s scale in a Borsa Istanbul-listed company through such a structure makes the transaction particularly notable for Türkiye’s capital markets.

The transaction is also viewed as a sign of international investor interest in Turkish capital markets and confidence in EFOR’s growth potential.

According to the KAP disclosure, the transaction was structured to strengthen Efor Holding’s and EFOR’s financial capacity and flexibility, while supporting the group’s long-term sustainability and growth strategy.

The deal was announced on August 19, 2026.

Source: Patronlar Dünyası/ Prepared by: İlayda Gök