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Strategic collaboration between DenizBank and Dedeman Holding

Strategic collaboration between DenizBank and Dedeman Holding 08.01.2013

Within the strategic collaboration, Dedeman Holding utilized a project finance loan of USD 175 Million. DenizBank will be the intermediary in all banking services to Dedeman Holding within the scope of the agreement.

Within the strategic collaboration, Dedeman Holding utilized a project finance loan of USD 175 Million. DenizBank will be the intermediary in all banking services to Dedeman Holding within the scope of the agreement.

DenizBank CEO Hakan Ateş said, “The DenizBank-Dedeman relationship which has continued for a long time is now on a stronger platform with this collaboration agreement”.

Dedeman Holding Chairman of the Board of Directors Murat Dedeman stated, “2013 and 2014 will be the beginning of a new era whereby the Dedeman Group will open new hotels within its two brands in hotel business, Dedeman and Dedeman Park, realize new breakthroughs in mining”.

Differentiating itself with its innovative products and services, DenizBank went on for a strategic collaboration with Dedeman Holding, one of the leading corporations of Turkey. The press conference on the strategic collaboration between the two institutions was held on Tuesday January 8th, 2012 at Dedeman Istanbul. DenizBank CEO Hakan Ateş, Dedeman Holding Chairman of the Board of Directors Murat Dedeman, Dedeman Holding Deputy Chairman of the Board of Directors Nazire Dedeman Çağatay and Deniz Yatırım Executive Board Member Cafer Bakırhan attended the meeting. Within the scope of the collaboration between DenizBank and Dedeman Holding with an important potential in all their investments primarily mining and hotel business, agreement was reached on the project finance of a total of USD 175 Million, comprising mostly of projects and with maturity of up to 10 years. The agreement authorizes DenizYatırım for all capital market transactions of Dedeman Holding from now onwards. Within the scope of the agreement, DenizBank will be the intermediary to Dedeman Holding in all banking transactions.

Not only a credit agreement, but a strategic partnership

Speaking at the press conference, DenizBank CEO Hakan Ateş stressed that the project finance they provided would ensure that new projects of Dedeman Holding flourish. Expressing that “This is not only a credit agreement, but a step for strategic partnership at the same time”, Hakan Ateş drew attention to the fact that the collaboration would enhance the value Dedeman Holding adds to our country’s economy. Ateş said, “The DenizBank-Dedeman relationship which has continued for a long time is now on a stronger platform with this collaboration agreement. This collaboration has a wide spectrum that includes the financing of new investments, public offering of business lines developed under Dedeman brand and introducing with domestic and foreign strategic partners”.


Emphasizing that DenizBank’s support to mining and real estate sectors, primarily tourism will increase with each passing day, Hakan Ateş said, “Having continued its activities in tourism, mining and real estate fields since 1900s with approximately 2.600 employees, Dedeman Holding is a very important actor in all sectors it is active in, especially tourism. DenizBank takes tourism, mining and real estate as important sectors. Taking into consideration dynamics, needs and cash flow; the tourism sector is a field that requires special care and interest in banking and addresses many subsectors such as hotel accommodation, restaurant, catering. Our bank has reached some remarkable figures as a result of working with investors that support the service industry. For our country to attain its tourism targets, our bank’s resources are offered for the investors’ services in new facility investments, renovation investments, project finance, financing of working capital loan and many areas where there is credit need. We believe that our credit share in the market will increase even more with the support of DenizBank under Sberbank roof towards tourism sector.”

During his speech at the press conference, Dedeman Holding Chairman of the Board of Directors Murat Dedeman said, “As Dedeman Group with an important potential in all fields of investment, primarily mining and hotel business, we are signing a very effective agreement with DenizBank A.Ş and DenizYatırım A.Ş. Our main purpose in realizing this agreement is to ensure Dedeman Group’s important projects that will provide added value to our country are actualized. As Dedeman Group, we begin a strategic collaboration with this new agreement we realize with DenizBank. This collaboration has a wide spectrum that includes the financing of new investments, public offering of business lines developed under Dedeman brand and enhancing cooperation with domestic and foreign strategic partners. DenizBank-Dedeman relationship which has continued for long years is now on a stronger platform with this collaboration agreement and serves the strengthening of both brands”.

Informing about the new projects they will carry out in the upcoming period, Dedeman Holding Chairman of the Board of Directors Murat Dedeman said that 2013 and 2014 would be the beginning of a new era whereby the Dedeman Group will open new hotels within its two brands in hotel business, Dedeman and Dedeman Park. He stated that they would open Dedeman Arbil and Dedeman Park Gaziantep hotels in the first half of 2013; Dedeman Bostancı and Dedeman Park Bostancı, built as adjacent towers in Istanbul Bostancı, and Dedeman Oskemen in Kazakhstan in the second half of the same year. He stated that they would open Dedeman Park İzmailova in Moscow and Dedeman Park Levent which will operate in a very important location of Istanbul in 2014. He said that in 2013 and 2014, they would continue their works in mining for the actualization of the lead-zinc-silver underground mine and concentrate facility to be built in Balıkesir Balya and opencast mine and concentrate facility in the chromium facilities in Adana Aladağ.

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