Business · Companies · 4 hrs ago
Turkey’s Markets Regulator Freezes Tera-Linked Voting Rights
Turkey’s Capital Markets Board froze voting rights held by Tera Yatırım Holding and several related entities.
Tera took control of Peker Gayrimenkul Yatırım Ortaklığı, known as Peker GYO, by acquiring all of its A-class privileged shares, with a nominal value of 314.75 million lira.
Tera did not make a required offer to buy shares from other shareholders after gaining control.
The frozen rights date from 16 September 2026, and the affected shares cannot be traded on or off the stock exchange until the offer requirement is met.
Those votes will not count toward general meeting quorums, though the regulator ordered voting rights in four funds already due to be liquidated to be unfrozen.
Voting rights will return after the required offer is completed, unless the board decides otherwise.
Investors who owned Peker GYO shares when Tera’s takeover was publicly announced may take legal action to seek compensation for any losses.
Turkey’s Capital Markets Board froze voting rights held by Tera Yatırım Holding and related entities after the holding failed to make a mandatory takeover offer for Peker GYO.
The freeze took effect automatically on 16 September 2026, the regulator said.
The affected shares held by four named Tera entities and a fund cannot be traded on the exchange until the offer obligation is met.
Frozen votes are excluded from general meeting quorum calculations, and are to be restored after the offer is completed unless the regulator decides otherwise.
Investors who were Peker GYO shareholders when Tera’s acquisition was publicly announced may seek compensation through the courts for any losses.
- Who
- Turkey’s Capital Markets Board (SPK) and Tera Yatırım Holding and related entities.
- What
- The regulator froze voting rights over Tera-linked shares because the holding did not make a mandatory takeover offer for Peker GYO.
- When
- The voting rights froze automatically on 16 September 2026; the decisions were reported on 19 October 2026.
- Where
- Turkey.
- Why
- Tera Yatırım Holding acquired management control of Peker GYO but did not fulfil its mandatory share purchase offer obligation.
This story does not have two clearly opposing sides.
Voting rights held by Tera Yatırım Holding and the listed related entities and funds froze automatically, according to the regulator.
The SPK published its decisions on Tera Yatırım Holding and Peker GYO.
- Acquired stake
- 314,754,719.80 Turkish lira nominal value of Peker GYO A-group privileged shares
- Voting-rights freeze
- Effective 16 September 2026
- Trading restriction
- Applies until the mandatory takeover offer obligation is fulfilled
- Possible legal action
- Eligible investors may seek compensation from Tera Yatırım Holding in court