Temsa sold by Turkish-based parent company

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.