Esas Holding has sold a portion of its shares in Pegasus Airlines, generating gross proceeds of 4.2 billion TL (122 million USD). The transaction was carried out in response to demand from international institutional and financial investors outside Turkey.
Details of the Sale
- Price per Share: 217.53 TL
- Total Proceeds: 4.2 billion TL (gross)
- Discount Rate: 7% (compared to the last closing price before the transaction)
This sale provided Esas Holding with additional financial resources without altering Pegasus Airlines’ ownership structure.
Buyers and Transaction Process
The shares were sold to two international institutional investors and one international financial investor. The transaction, conducted based on investor demand, was completed through Citi Group.
Esas Holding’s Ownership Remains Unchanged
Following the sale, Esas Holding retains its position as the largest shareholder in Pegasus Airlines, with a 52.8% stake. While the transaction did not impact the ownership structure, it aligned with Esas Holding’s strategy to strengthen its financial position.
Esas Holding and Pegasus Airlines
Esas Holding continues to play a significant role in the management and growth strategies of Pegasus Airlines through its shareholding. The sale highlights Esas Holding’s focus on expanding its financial resources and creating opportunities for new investments.
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