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Doğan Holding

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Title: Doğan Holding  
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Subject: Companies listed on the Istanbul Stock Exchange, Dream TV (Turkey), Doğan Media Group, Posta (newspaper), Aksa (company)
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Doğan Holding

Doğan Şirketler Grubu Holding A.Ş.
Type Anonim Şirket
Traded as BİST: DOHOL
Founded Istanbul, Turkey (1980 (1980))
Founders Aydın Doğan
Key people Arzuhan Doğan Yalçındağ (Chairperson)[1]
İmre Barmanbek (Deputy Chairperson)
Ragıp Nebil İlseven (Deputy Chairperson & CEO)
Revenue DecreaseUS$ 1.3 billion (2008)
Net income DecreaseUS$ 77.8 million (2008)
Employees 16,467

Doğan Holding is one of the top industrial conglomerates in Turkey operating in the energy, media, industry, trade, insurance and tourism industries.

Group companies

Lawsuits and accusations

POAS privatization controversy

On Sept 3, 1998, the Petrol Ofisi (POAS) privatization tender ended with Akmaya-Orteks Group offering USD 1.160 billion, Doğuş Holding-Garanti Bank USD 1.150 billion, Türkiye İş Bankası-Bayindir Holding-Park Holding-PUIS Grubu USD 1.110 billion.

The Privatization Board of Turkey however preferred Türkiye İş Bankası-Bayindir Holding-Park Holding-PUIS consortium. This was later on cancelled by the court and Dogan Holding won the next bidding process. The case involved serious corruption allegations, with then-Vice Prime Minister Mesut Yılmaz and then-State Minister Isin Celebi accused of abuse of power and Aydın Doğan of manipulating the public opinion through his media network.

Tax fraud charges

On Sept 8, 2009, Dogan Yayin said tax authorities wanted companies it controls to pay a total of TL3.76bn ($2.5bn) in unpaid taxes and penalties – equivalent to more than four-fifths of the combined market value of Dogan Holding and Dogan Yayin. The fine was issued after an earlier tax penalty of more than $500 million was leveled against the group in February for tax irregularities connected to the sale of a 25 percent stake in its television unit to German publisher Axel Springer AG.

Three weeks later, Turkey's largest media group Dogan Yayin said it was officially notified of an increase in a tax fine to 4.8 billion lira ($3.22 billion). The Halkali Tax Office had sent notifications to Dogan Yayin, stating movable and immovable properties provided as a guarantee by the firm could be sold at the end of the legal process.

Manipulation of tax court electronic distribution system

Dogan's financial specialists and attorneys reclaimed their case file a number of times in order to ensure that it would not be put into the electronic distribution system in order to determine which court the case will be heard in. According to claims, Dogan's financial experts spent eight hours in the Tax Court on October 2, 2009 in order to ensure their case was handed over to a specific preferred court.

SPK accusations

On September 28, 2009, Turkey's Capital Markets Board SPK, accused Aydın Doğan, Imre Barmanbek, Hanzade Dogan Boyner and Ali Riza Temuroglu for deliberately causing financial losses to Hurriyet Gazetecilik and Dogan Gazetecilik. It claimed that Dogan Holding purchased paper and publishing supplies at higher producer/seller unit prices from offshore companies—Sortal Trading Company Limited and Shawcliff Trading Limited—instead of direct producers. This, the SPK contends, cost Hurriyet Gazetecilik and Dogan Gazetecilik TL 33.12 million (USD 22.19 million), excluding the interest. The SPK reported that it would take the case to court.


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External links

  • Official Website

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