Azernews.Az

By Bloomberg

Sabanci, Turkey’s second-largest business group, plans to sell its unit that distributes Mitsubishi vehicles as the group focuses on bus-making and construction machinery, people with knowledge of the matter said.

Haci Omer Sabanci Holding AS, as the Istanbul-based banking-to-energy group is formally known, is working with Credit Suisse Group AG on the potential sale of its entire stake in Temsa Motorlu Araclar, said the people, who asked not to be identified as the matter is confidential. Japan’s Sumitomo Corp. and Bayraktar Holding AS, a spare-parts maker and distributor of the Infiniti, Citroen and Subaru brands in Turkey, may be interested in buying the asset, the people said.

Sabanci completed a reorganization at its Temsa unit in 2013, spinning off Temsa Is Makinalari, which distributes construction machinery, and Temsa Motorlu Araclar from bus-maker Temsa Global Sanayi & Ticaret AS. The group sold 49 percent of the construction unit to Marubeni Corp. for an undisclosed price last year.

Temsa Motorlu Araclar had sales of about 400 million liras in 2014, industry group chief Mehmet Pekarun said Feb. 26.

Sabanci Holding Chief Executive Officer Zafer Kurtul declined to comment. Representatives for Credit Suisse, Bayraktar Holding and Sumitomo also declined to comment.