Following approval by the Capital Markets Board (CMB), shareholders also approved the merger of all operations under a single entity by Şişecam Group. The Group opted for simplification of its legal entity and shareholding structure. Procedures on consolidating the publicly listed main subsidiaries of the Group—Anadolu Cam, Denizli Cam, Soda Sanayii, Trakya Cam and Paşabahçe Cam—under the Şişecam umbrella were initiated on January 30, 2020. The official application was made to the CMB on April 27, 2020, and the regulatory authority’s approval was received on July 23, 2020.

Extraordinary General Assembly meetings were held August 26-28, 2020 with the specific agenda of the merger following the CMB’s approval. Shareholders approved the merger of Anadolu Cam Sanayii A.Ş., Denizli Cam Sanayii ve Ticaret A.Ş., Paşabahçe Cam Sanayii ve Ticaret A.Ş., Soda Sanayii A.Ş. and Trakya Cam Sanayii A.Ş. being taken over by Türkiye Şişe ve Cam Fabrikaları A.Ş. as a whole with all of their assets and liabilities. Following the approval decisions taken at the General Assembly meetings, the merger process is expected to be completed by the end of September pursuant to relevant legal and regulatory provisions.