True Value completed the acquisition of TEMSA from Sabancı for $140m.

True Value Capital Partners, an investment services provider, completed the acquisition of TEMSA, a coach, bus and light truck manufacturer, from Haci Omer Sabanci, an industrial and financial conglomerate, for $140m. "One out of every three buses in Turkey is manufactured by TEMSA, which has exported over 15,000 vehicles to 66 countries to date. With a total of 5,000 buses and coaches in France alone, TEMSA's presence in Europe spans important markets that include Germany, the U.K., Italy, Austria, Sweden, Lithuania and the Benelux countries. TEMSA currently has three electric models ready for serial production: the 9-meter 'MD9' and the 12-meter 'Avenue Electron' and 'Avenue EV'," Hasan Yıldırım, TEMSA CEO.