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Turkey's Capital Markets Board (SPK) said it has frozen the voting rights held by Tera Yatırım Holding and affiliated entities after the group failed to launch a mandatory tender offer for Peker Gayrimenkul Yatırım Ortaklığı AŞ shares.

Tera Yatırım Holding gained management control of Peker GYO by acquiring all of its A group privileged shares, triggering a buyout obligation it did not fulfill, the board announced alongside decisions on related funds and share-trading restrictions.

Recourse for investors

The SPK said investors who held shares in the company on the date the acquisition of Peker GYO shares by Tera Yatırım Holding was publicly disclosed must be informed that they may turn to the courts against Tera Yatırım Holding AŞ to seek compensation for any losses they suffered.

Key takeaways

• The SPK froze voting rights of Tera Yatırım Holding and affiliated entities as of 16 September 2026 for failing to make a mandatory tender offer for Peker GYO shares.
• Tera Yatırım Holding gained management control of Peker GYO by taking over all of its A group privileged shares, with a nominal value of 314,754,719.80 liras.
• Frozen voting rights will not count toward general assembly quorums, and the related shares cannot be traded on or off the exchange until the tender offer is fulfilled.
• The freeze on voting rights of four funds already in liquidation was lifted, and affected investors were told they may seek damages through the courts.