BMC Shares Changed Hands: Tosyalı Holding Officially Owns 50,1 Percent

Tosyalı Holding officially owns a 50,1% stake in BMC, one of Turkey's largest commercial and military vehicle manufacturers, owned by Galip Öztürk and Ethem Sancak. It was claimed that the sale price of the shares was 480 million dollars. The long-standing negotiations of Tosyalı Holding to purchase the shares of the truck and armored vehicle manufacturer British Motor Company (BMC) belonging to Ethem Sancak and Galip Öztürk families resulted in an agreement. According to the information released, BMC's ongoing negotiations between Öztürk and Sancak resulted in an agreement.

According to the information published in the Trade Gazette, 50,1 percent of BMC's shares belonging to Öztürk and Sancak were officially sold to Tosyalı Holding and became Fuat Tosyalı. The sale price of the shares was claimed to be 480 million dollars.

THE SANCAK AND ÖZTÜRK FAMILIES HAVE NO SHARE

After the Sancak and Öztürk families bought a total of 50,1 shares, the two families did not have any shares in BMC. zamFuat Tosyalı, who was currently a member of the Board of Directors of the Turkey Wealth Fund (TVF), was elected. Tosyalı Holding Internal Audit Manager Mustafa Ekrem Altınözlü was elected as a member of the Board of Directors, replacing Talip Öztürk, the brother of Rize businessman Galip Öztürk, the concession holder of Metro Turizm.

PARTNERSHIP OF QATARS

Qatar partners, who bought 49,9 percent of BMC for 2014 million dollars in 300, did not change their place in the management. 10 Qatari executives continued to take part in the board of directors consisting of 5 people. The Tank-Pallet Factory of the Land Forces Command in Sakarya was allocated to BMC, which was awarded the Altay Tank tender in April 2018, for 50 years with an investment of 25 million dollars.

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