Zorlu Enerji reached an agreement with the Kuwait Wealth Fund to sell its shares

Zorlu Holding announced that the agreement was signed for the sale of a minority share of Zorlu Energy to a subsidiary of the Kuwait Wealth Fund. 12.34 percent of Zorlu Energy will be transferred to Wren House Infrastructure LP, a subsidiary of the Kuwait Wealth Fund, for $38 million. The share transfer will not cause a change in the management control of the company. The income from the share transfer will be used to pay off Zorlu Energy's financial debts. With the agreement, the loan agreement between Zorlu Energy and the Kuwait Wealth Fund was also amended. Accordingly, the maturity date for the repayment of the remaining principal debt of $150 million was extended to 2028. Zorlu also reached an agreement with the Kuwait Wealth Fund for the sale of the majority shares of its Dutch subsidiary ZES NV. According to the agreement, Zorlu Energy's subsidiary ZES Digital will be included in ZES. Later, all of the ZES shares will be transferred to the new company to be established abroad. The majority shares of the new company will be transferred to Wren House Infrastructure for $50 million. As a result of the completion of the share transfers, Zorlu Enerji expects a $100 million decrease in its foreign loan principal debt