AG Anadolu Group Holding on Wednesday signed a binding share transfer agreement with Qatari Boheme Investment GmbH for the sale of shares representing 100% of the capital of its subsidiary, Anadolu Restaurant, which operates the McDonald's franchises in Turkey.

The holding made the related statement to the Public Disclosure Platform (KAP).

"A binding share transfer agreement was signed between our company and Boheme Investment GmbH on May 11, 2022," the statement noted.

It was also stated that the completion of the share transfer is subject to the fulfillment of the prerequisites in the share transfer agreement and that the transfer is expected to be concluded in the first half of 2022.

According to the agreement reached by the parties, the transfer price will be determined by excluding the net debt amount in Anadolu Restaurant's balance sheet at the closing date and netting out the other assets and liabilities defined in the share transfer agreement from the amount of $54.5 million, the statement said.

It is estimated that the amount to be calculated by excluding the mentioned net debt amount and other assets and liabilities defined in the share transfer agreement is approximately $5 million to $6 million.

Vienna-based Boheme Investment GmbH is the subsidiary of Kamal Saleh Al Mana, a Qatari investor. Kamal Saleh Al Mana also has a partnership that operates the franchise of McDonald's restaurants in Qatar.