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Developments on YKB and Cukurova Deal

Please note that, as we have not received the initial payment (as per the Supplementary Agreement to the Financial Restructuring Agreement signed between Yapi Kredi Bank and Cukurova Group on 20.07.2004) on 12.10.2004, the asset sale clauses of the Supplementary Agreement have become invalid. Consequently, in terms of asset sales, the clauses of the agreement signed between the Banking Regulation and Supervision Agency, the Savings Deposit and Insurance Fund and Cukurova Group on January 31, 2003, will be valid.

Yapı Kredi / 13 Oct 2004

 
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