Sabanci Holding, parent company for the Turkish-based motorcoach manufacturer Temsa, sold the company to Swiss firm True Value Capital Partners, Bloomberg HT reported.
The sale was made based on a value of approximately $65 million after adjusting for debt and cash holdings and included the 49% stake owned by Sabancı Holdings and the other 51% owned by shareholders including the Sabancı family.
According to the Bloomberg HT report, Temsa was sold due to a technological and strategic shift by Sabanci Holding. For the full story, click here.
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