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New Deal


Announced

Three Turkish locomotive manufacturers to merge into TURASAS.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Tags

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locomotives manufacturer

Acquisition

Merger

Turkey

passenger locomotives

locomotives

wagon building

Friendly

Pending

Restructuring

Private

Railroads

Majority

Single Bidder

Synopsis

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Turkish locomotive manufacturer Tulomsas, wagon builder Tudemsas and passenger rolling stock manufacturer Tuasas, are set to merge into a newly established company Turkiye Rayli Sistem Araclari Sanayii Anonim Sirketi, which will be owned and managed by the Ministry for Transport & Infrastructure. This was followed by legislative changes in 2017 which allowed private freight companies to operate on the TCDD network. Similar reforms to allow private passenger services have long been discussed but are yet to be formally implemented.

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