The Turkish Sabancı Holding has sold the vehicle manufacturer Temsa to the Swiss investment fund True Value Capital Partner’s. The sale was concluded on the basis of a value of 375 million Turkish lira and includes the 49 percent stake owned by Sabanci Holding and the other 51 percent of the shareholders of the Sabanci family, which owns the holding company.

The decision is the result of the technological and strategic change of Sabancı Holding that intends to focus more on energy production following the acquisition of two of the four regional tenders for a wind energy production program managed by the Turkish Ministry of Energy.

Temsa was established in Adana in 1968. It began as a dealer for automobiles and construction machinery in Turkey. The agreement with Mitsubishi (of which Temsa was a dealer), led in 1984 to the production of buses, initially only for the domestic market. Today Temsa is one of the leading Turkish brands in the bus & coach sector. In addition to buses and midibuses produced in the Adana plant, Temsa also builds light trucks at the Adapazari plant under Mitsubishi license.

Temsa sold to a Swiss company