Otokar will pay 85 million euros for 96.77% of the shares of Automecanica, a Romanian company of commercial and armored vehicles, the transaction requiring the approval of the Competition Council.

Otokar, part of the Turkish holding Koç, has announced the acquisition of 96.77% of the shares of Automecanica for the sum of 85 million euros. Automecanica SA is known for the production of commercial vehicles, including buses and light trucks, as well as tactical armored vehicles.

The transaction must be authorized by the Competition Council, which will assess its impact on the competitive environment. Last year, Otokar signed a joint venture agreement with Automecanica to locally produce armored vehicles, thus contributing to the development of Romania's defense capabilities. Koç, the holding of which Otokar is a part, has a significant presence in Romania, including through the acquisition of the vehicle plant in Craiova and other investments in various fields.