20.10.2026 13:20
Following the financial difficulties experienced at Vestel, Zorlu Holding, which continues its asset sales, is also divesting its shares in the electric vehicle charging sector. Zorlu Enerji has signed an agreement to sell its entire 41.28 percent stake in Electrip Global Limited, which operates in Turkey under the ZES brand, for $147.6 million. The shares will be transferred to the Kuwait Investment Authority and its partner.
Zorlu Holding, chaired by Ahmet Nazif Zorlu, has added a new one to its recent asset sales. Zorlu Enerji Elektrik Üretim AŞ, operating within the holding, has reached an agreement to sell all its shares in Electrip Global Limited, one of its investments in the electric vehicle charging sector.
According to the company's notification to the Public Disclosure Platform (KAP) on October 19, an agreement was reached on a price of USD 147,619,178 for the sale of a 41.28 percent stake.
The buyers in the sale were announced as Wren House Infrastructure LP and Kuwait Investment Authority.
OPERATING IN 81 PROVINCES OF TURKEY
At the center of the sale agreement is the electric vehicle charging network known in Turkey under the Zorlu Energy Solutions (ZES) brand.
Serving in 81 provinces of Turkey, ZES has more than 1,800 charging points and over 5,000 charging sockets.
With Zorlu Enerji transferring all its shares in Electrip Global Limited, its partnership in the company will come to an end. However, this transaction does not mean that ZES stations will close or cease to provide service.
SHARES TO BE TRANSFERRED TO KUWAIT INVESTMENT AUTHORITY AND ITS PARTNER
In the KAP statement, it was stated that Zorlu Enerji will transfer all 16,128.52 shares corresponding to the Group A shares in Electrip Global Limited's capital.
According to the contract signed on October 19, the sale transaction is planned to be completed on October 22, 2026.
If the transaction takes place, Zorlu Enerji's partnership ratio in Electrip Global Limited will fall to zero.
SALE PROCEEDS TO BE USED FOR DEBTS AND NEW INVESTMENTS
Zorlu Enerji also announced the areas of use for the approximately USD 147.6 million in resources to be obtained from the sale. The company will use part of the proceeds to finance new investment expenditures and the other part to repay some of its financial obligations. It was reported that the sale will be made by cash payment and that the price was determined through negotiation between the parties. The profit or loss arising from the transaction will be included in the company's financial report dated December 31, 2026.
CHARGING SECTOR AFTER HOTEL AND MINING SITES
According to a report by Sinan Doğan from Tek Referans, Zorlu Holding's new sale decision came after it disposed of its hotel in Trabzon and its mining sites in the Gördes district of Manisa. With these transactions carried out during a period when Vestel's financial problems were on the agenda, the change in the holding's asset portfolio drew attention. With the completion of the final agreement, Zorlu Enerji will have left Electrip Global Limited, one of its important subsidiaries in the electric vehicle charging sector.