Kervansaray Holding's Majority Owner in Talks to Sell 62% Stake to Dubai Firm

Zeynep Tümer in Talks to Sell 62% Stake in Kervansaray Yatırım

Kervansaray Yatırım Holding's controlling shareholder, Zeynep Tümer, has entered discussions to sell her entire 62.06% stake. The potential buyer is Oasis Prime-FZCO, a Dubai-based firm active in agriculture and energy.

The disclosure to Turkey’s Public Disclosure Platform (KAP) indicates that the talks cover the possible partial or full transfer of Tümer's 365 million shares. At Thursday's closing price of 9.50 lira per share — after a 9.3% daily gain — the stake would be valued at approximately 3.5 billion lira, assuming no discount is applied.

The holding company's shares have rallied sharply over the past six months, surging roughly 375% from around 2 lira in February 2026. The stock's upward momentum accelerated ahead of the official announcement, reflecting market anticipation of a potential deal.

No binding agreement has been reached, and the company cautioned that further developments will be shared in accordance with regulations.

Strategic Logic Behind Oasis Prime's Pursuit

A Generous Exit for the Majority Shareholder

If the deal is consummated at close to the implied market value, Zeynep Tümer stands to monetize a position that has multiplied nearly fivefold in half a year. The surge from 2 lira to 9.50 lira may partly reflect speculation around the negotiations themselves, but it also suggests market confidence in the underlying asset value or the prospects of an outside buyer paying a premium for control.

Oasis Prime's Move: Accessing Turkish Assets

Oasis Prime is described as focusing on agriculture and energy, two sectors where Turkey offers significant opportunities. While Kervansaray Yatırım Holding's portfolio is not detailed in the filing, a holding company with a broad range of investments could provide the Dubai firm with a ready-made platform to expand into the Turkish market. The potential deal may therefore represent more than a financial investment — it could signal a strategic push into Turkey's real economy by a Gulf-based investor.

Regulatory and Deal Uncertainty

The parties are still negotiating, and a foreign acquisition of a controlling stake in a publicly traded Turkish company may require approvals from the Competition Authority or other regulators, depending on the underlying assets. The final price could differ significantly from the indicative 3.5 billion lira headline figure if a control premium or an illiquidity discount is negotiated.

Implications for Shareholders as 3.5 Billion Lira Deal Looms

• For current shareholders: The stock’s recent jump to 9.50 lira partly prices in deal hopes. If the negotiations fail, the shares could quickly surrender those gains, especially given the six-month run-up.
• Deal terms matter. A sale at the current market price with no discount would give Tümer a full exit at robust levels; any premium for control could lift the valuation further, but a discount cannot be ruled out.
• Minority investors should follow whether the buyer intends to launch a mandatory tender offer for remaining shares after acquiring control — Turkish law typically requires a tag-along mechanism, though this has not yet been addressed.
• Strategic shifts. If Oasis Prime completes the purchase, Kervansaray Holding could pivot toward agriculture and energy projects, opening new growth avenues but also altering the risk profile for existing stakeholders.
• Watch for regulatory milestones. Any required approvals from Turkish authorities could delay or derail the deal; the next official filing will clarify the timeline and any conditions.