Change in TOGG Ownership Structure: Anadolu Group and Vestel Transfer Shares
AG Anadolu Group and Vestel signed an agreement to transfer their shares in TOGG capital to the Türkiye Wealth Fund and Turkcell. Upon completion of the transactions, Turkcell's share will rise to 34 percent.
Many developments have occurred since the founding of domestic carmaker Togg. As the end of 2026 approaches, another change is taking place in Togg's shareholding structure.
AG Anadolu Grubu and Vestel signed an agreement to transfer their shares in TOGG capital to the Türkiye Wealth Fund and Turkcell. Upon completion of the transactions, Turkcell's share will rise to 34 percent.
New agreement from AG Anadolu Grubu Holding and Vestel Elektronik
AG Anadolu Grubu Holding and Vestel Elektronik signed a share purchase agreement to transfer their shares in Türkiye's Automobile Joint Venture Group (TOGG) capital to the Türkiye Wealth Fund (TVF) and Turkcell. According to disclosures made to the Public Disclosure Platform (KAP), the total transfer consideration set for both transactions is 368 million euros.
Following the fulfillment of the conditions precedent in the signed agreements and official approval processes, a direct change will occur in TOGG's shareholding structure.
Turkcell Increases Its Share in TOGG to 34 Percent
Meanwhile, Turkcell, one of Türkiye's leading operators, stated in its disclosure to KAP that an agreement was signed for the acquisition of 796 million 567 thousand 640 TOGG shares owned by AG Anadolu Grubu Holding AŞ. These shares correspond to 11 percent of TOGG's capital.
Upon completion of the conditions in the contract, the transfer process will be finalized with cash payment on the closing date. After this stage, Turkcell's total share in TOGG will reach 34 percent. The company reported that this investment shows strategic alignment with its competencies in technology infrastructure and digital services, and is expected to contribute to its long-term investment goals.
Anadolu Grubu Transfers Shares for 184 Million Euros
AG Anadolu Grubu Holding is divesting its entire 23 percent stake in TOGG capital. The total of 1 billion 665 million 550 thousand 520 shares owned by the company was split between two different institutions:
- 868 million 982 thousand 880 shares representing 12 percent of TOGG capital will be transferred to the Türkiye Wealth Fund.
- 796 million 567 thousand 640 shares corresponding to 11 percent of TOGG capital will be transferred to Turkcell.
The statement noted that the transfer transactions in question will be carried out for a total of 184 million euros and the payment will be collected in cash on the closing date.
All Vestel Shares Transfer to Türkiye Wealth Fund
Vestel Elektronik decided to sell all of its shares with a nominal value of 1 billion 665 million 550 thousand 520 liras, corresponding to a 23 percent stake in TOGG, to the Türkiye Wealth Fund. The sale price was announced as 184 million euros.
Meanwhile, Vestel also shared its utilization plan for the cash proceeds from the sale. In the company notification, it was stated that at least 90 percent of the fund will be used within 30 days of collection to settle due debts tied to bank loans.
Summary of TOGG Share Transfers
| Selling Shareholder | Transferred Stake | Buyer | Transaction Value |
|---|---|---|---|
| AG Anadolu Grubu Holding | 11% | Turkcell | 184 million euros (total including TVF stake) |
| AG Anadolu Grubu Holding | 12% | Turkey Wealth Fund (TVF) | (Included in the above amount) |
| Vestel Elektronik | 23% | Turkey Wealth Fund (TVF) | 184 million euros |
This article was translated from Turkish. Read the original article in Turkish.
