The foundations of KARADENİZ HOLDİNG A.Ş. are laid by Rauf Karadeniz in the year 1948. Rauf Karadeniz, who died in the year 2006, is the opinion owner and founder shareholder of DEVA HOLDİNG A.Ş. at the same time.

Karadeniz Holding currently continues its operations with 370 personnel particularly in energy and also in the financing, tourism and immovable property investment sectors.

Karadeniz Holding Energy Group:

Energy is the principal activity area of Karadeniz Holding.

Our energy travel started with the target of being the global energy brand of Turkey in line with the energy markets which became free all over the world in the year 1996.

The total production capacity of 240 MW is reached with the investments which are directed at the continuous capital increase in KARKEY and İDİL thermal power plants situated in Silopi belonging to our group and KAREGE Cogeneration power plant situated in İzmir. Our new investments such as 200 MW HES, 210 MW RES and 300 MW coal will increase the total capacity to beyond 1000 MW.

KARTET Karadeniz Toptan Elektrik Ticareti A.Ş., which is another company of the group, is not only the greatest private wholesale electricity energy trading company of Turkey but also it exports electricity in Iraq since 2003. KARTET, which provides electricity with the long-term contracts to leading independent consumers, has also exclusive electricity purchase sale agreement for ten (10) years period of time with Iraq Republic Ministry of Electricity at the same time. KARTET became the 82nd biggest exporter of Turkey with 105 Million USD which is the exportation amount of the year 2006 in the biggest exporter companies list announced every year by Turkey Council of Exporters. In addition to this, KARTET is awarded the 2006 İMMİB Exportation Star reward by Istanbul Mineral and Metal Exporters Unions (İMMİB). KARTET signed an agreement for ten (10) years period of time for the electricity importation into Turkey from Iran with Tavanir which is the only authorized organization of Iran on electricity in the year 2007.

Kares Karadeniz Enerji Servisleri ve Makine Ticaret A.Ş. (KARES) carries out Turkey representation of a lot of companies such as the world giant HYPERTHERM / USA and MESSER GRIESHEIM / GERMANY on the subject of various machines and equipments cutting and combining metals and CNC cutting workbenches in addition to various services to the energy sector. Another activity area of Kares is the supply of the electricity communication and distribution equipments directed at the Middle East market and particularly Iraq. Karadeniz Energy Services present the services of energy management, disposal and meter measurement services to the electricity customers of our group.

Karadeniz Holding values very much the Electricity Production and Distribution Privatizations in the frame of its growing strategy on the energy area.

Karadeniz Holding Tourism Activities:

The holding carries out its activities on the tourism area through Karadeniz Yatçılık ve Turizm A.Ş. (KARYAT). KARYAT, which is the first and only company of Turkey which operates the sail yacht fleet in the transoceanic waters, presents services to the VIP names of the world with two (2) mega sail yachts as Princess Zeynep (50 mt) and Suheyla Sultan (40 mt).

Karadeniz Holding Finance Group and Other Financial Affiliates:

Taking part in the finance sector with its leaps in the year 2008, in addition to the energy and other sectors, is among the main targets of Karadeniz Holding.

There are Pamuk Leasing A.Ş. and Pamuk Factoring A.Ş. in the structure of Karadeniz Holding Finance Group and, as Eti Menkul Kıymetler also joined the group a very short period of time ago, it is in an active player position in the area of financial institutions out of banks.

Karadeniz Holding took a decision in the year 2006 to enter the finance sector which it is interested for long years. 97.51% shares of Pamuk Factoring A.Ş. are purchased after the tender which is performed by SDIF (Savings Deposit Insurance Fund) Presidency in December / 2006 is accomplished as the first finance company of the group. Thus, Karadeniz Holding became the owner of Pamuk Finansal Kiralama A.Ş. which Pamuk Factoring A.Ş. participated with 76% with its shareholding proportion. After that, the group purchased the remaining shares and became 100% shareholder of Pamuk Factoring and Pamuk Leasing. Karadeniz Holding purchased 99.95% of Eti Menkul Değerler from SDIF (Savings Deposit Insurance Fund) in November / 2007 again through tender after the permission obtained from the Capital Committee Market and increased the number of companies in the finance sector to three.

Karadeniz Holding Group also participates in Deva Holding A.Ş. which it is one of the founders with about 5.2% because of the direct participation of Karadeniz Yatçılık A.Ş. and it is in the position of the investor having the biggest minority rights at present.

Karadeniz Immovable property Investment Group

Karadeniz Holding, which projected its dreams for developing the commerce and living areas of the 22nd century as the immovable property investment sector got movement in Turkey and decided to take part in the immovable property investment sector, continues its feasibility studies on two different areas as 240.000 m² and 1.000.000 m² in Anatolia side of Istanbul. These activities are combined in the structure of Pamuk Gayrimenkul Yatırımları A.Ş. in order to continue the investments of the group on the immovable property area. Today, it has a portfolio size exceeding the amount of 200 million USD.