Zeren Group Makes Major Move at Türkiye Petrolleri

We are pleased to share that the Competition Board has approved the sale of shares in TP Petrol Distribution Inc. (TP) between Alpet (Altınbaş Petroleum and Trade Inc.), which belongs to Zeren Group Holding, and Zülfikarlar Holding.

Zeren Group Holding, operating with 23 brands across 4 continents and 8 different sectors, has achieved another significant milestone in the energy sector, which forms the core focus of its growth strategy with this approval. With the acquisition of TP, which operates through more than 800 dealers, Zeren Group Holding will continue to expand and develop the company with new investments in the coming period.

Mustafa Yiğit Zeren, Chairman and Chief Executive Officer of Zeren Group Holding, expressed his gratitude to the Competition Board and all Competition Authority staff regarding the decision, stating: "This decision is of great importance in terms of supporting the growth will of domestic and national capital in the energy sector, which has strategic significance. As Zeren Group Holding, we are very grateful to Zülfikarlar Holding, which has facilitated the entire process and cooperated on all matters. We want everyone to be assured that we will add strength to and develop Turkey Petroleum, one of our country's greatest assets. We regard growth in the energy sector as the protection of a strategic area for our country and the increase in the diversity and quality of services provided to our consumers."