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Turkcell announced the sale of its Ukraine subsidiaries Lifecell LLC, LLC Global Bilgi and LLC Ukrtower to DVL Telecom for $538.7 million, according to a filing with the Public Disclosure Platform (KAP).
The sale includes all shares of the three subsidiaries along with their rights and liabilities, marking Turkcell's complete exit from the Ukrainian market. DVL Telecom, a NJJ Holding group company, has taken over all operational responsibilities.
"Following adjustments made within the framework of financials prepared as of the closing date, including cash and debts, the final sale price was realized as $538.7 million," the company stated in its KAP filing.
The announcement confirms the transfer of all three subsidiaries' complete ownership to DVL Telecom, including their existing operations and financial obligations.
Lifecell LLC represented one of Turkcell's most significant assets in Ukraine, while LLC Global Bilgi and LLC Ukrtower comprised the company's other strategic investments in the region. The combined sale of all three subsidiaries signals Turkcell's complete withdrawal from the Ukrainian telecommunications market.
The transaction encompasses a comprehensive financial transfer beyond simple share ownership, as indicated by the adjustments for cash positions and debt obligations that influenced the final sale price.
DVL Telecom has assumed responsibility for continuing the subsidiaries' current operations as part of the acquisition agreement.
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