Аysir Turizm ve Inşaat A.Ş. Joint Stock Company

Date of creation: 1997

KazMunayGas-Service LLP (75%)

Orhan Yilmaz – (24.99%),

Kerem Berk Yilmaz – (0.005%),

Tuba Yilmaz – (0.005%)

5–star Kempinski Hotel Barbaros Bay Bodrum on the shores of Barbaros Bay with its own beach and infrastructure.

75% of Aysir shares is owned by KazMunayGas-Service LLP (hereinafter - KMGS), the remaining 25% of shares is owned by Minority Shareholders. After the acquisition of this asset, JSC NC KazMunayGas (hereinafter – KMG), as an international investor, invested significant financial resources in the development of the Company. However, since 2016, KMG faced difficulties in implementing the management of the Aysir company.

In this regard, on April 12, 2022, Samruk-Kazyna JSC sent a letter to the Ministry of Foreign Affairs of the Republic of Kazakhstan (hereinafter - MFA RoK) with a request to assist, with the involvement of employees of the diplomatic mission of the Republic of Kazakhstan in Turkey, in protecting investments made by KMG/KMGS, as well as restoring violated legal rights of KMGS in the implementation of judicial proceedings on the territory of Turkey and the right of access to the management of the Aysir company by representatives of KMG/KMGS.

On April 14, 2022, the Ministry of Foreign Affairs of the Republic of Kazakhstan has sent an instruction to the Embassy of the Republic of Kazakhstan in the Republic of Turkey. Taking into account the additional materials sent by KMG on Aysir to the Embassy on April 25, 2022, confirmation of the start of consultations and planned actions to restore control over Aysir is currently expected.

The State Commission by the decision of December 15, 2021, agreed the transfer of the asset to the competitive environment for 2022. The realization of a 75% stake in the Company to the strategic investor is being considered.

To be approved

To date, there is no separately introduced ESG policy, however the principles of sustainable development are laid down in the Company’s business processes and there is a guideline for ESG factors.