Balcıoğlu Selçuk Ardıyok Keki Attorney Partnership (“BASEAK”) advised Sabanci Holding and PPF Group, acting through their subsidiaries, to each acquire 50% stakes of Temsa Ulasim Araclari Sanayi ve Ticaret Anonim Sirketi (“TEMSA”), a bus and coach manufacturer established and operating in the Turkish industry for more than a half century. 

Sabanci Holding is one of the most long-established and dominant market player in Turkish economy with its prestigious and highly experienced subsidiaries having strategic portfolio mainly in education, banking, insurance, energy, industrial, building materials, retail and technology areas. 

PPF Group, managing assets globally in the approximate value of EUR 50 billion, is the main shareholder of Skoda Transportation which is one of the world’s leading engineering and industrial company. PPF Group also has a significant role in developing modern and environment-friendly products while successfully running its business in Europe, North America and Asia. 

TEMSA has an important presence not only in Turkey but also in North America, France and Germany and establishes a respectable position in manufacturing business with its innovative vision. TEMSA has exported around 15 thousand vehicles approximately to 70 different countries in addition to more than 20.000 buses sold in Turkey and dominates a major portion of Turkish bus manufacturing market. Through this partnership, Sabanci Holding and PPF Group combined their know-how and production capacities to strengthen TEMSA’s position both in local and global industries.

Partner Galip Murat Selcuk led the transaction with Counsel Selahattin Kaya, Associate Idil Tumer and Associate Muge Atalay. The project team advised both Sabanci Holding and PPF Group throughout the transaction starting from the due diligence process to successful closing. 

About Balcıoğlu Selçuk Ardıyok Keki

Balcıoğlu Selçuk Ardıyok Keki Attorney Partnership is an Istanbul-based full service law firm with a team of 130+ lawyers and economists. Our practice focuses on a wide range of areas including real estate, corporate, mergers and acquisitions, banking, project finance, capital markets, competition and anti-trust, employment, litigation and arbitration, telecommunication, regulatory and public law and intellectual property. We represent and advise Turkish and multinational clients, including Fortune 500 companies, in the banking and finance, private equity, real estate, manufacturing, hospitality and leisure, retail, automotive, energy, information technology, life sciences, luxury fashion and beauty, and media sectors.