Turkey's Otokar shares jump after signing MoU to acquire majority stake in Romania's Automecanica

Otokar Otomotiv ve Savunma Sanayi

28/01/2026 08:59

** Shares in Turkey's Otokar OTKAR.IS rise 6% after Turkish military and commercial vehicle manufacturer signs a memorandum of understanding (MoU) to acquire 96.77% of Romanian defence company Automecanica

** Otokar says the deal size is projected to be around 85 million euros  ($101.91 million)

** The MoU covers the potential acquisition of shares held by Automecanica shareholders Andrei Scobioala and Automecanica SKB Property SRL

** Company says obligations under the MoU may be transferred to its wholly owned unit Otokar Land Systems SRL

** Brokerage Deniz Yatirim says "Based on Otokar’s most recently disclosed annual financial statements, this acquisition corresponds to 12.9% of its revenue and 7.1% of its total assets"

** "We view it as a strategic step supporting the operational continuity of defence industry projects in Romania. We assess the impact on Otokar shares as positive" Deniz Yatirim adds

** The stock is second best performer in main BIST 100 index .XU100 which is up 1.7%

($1 = 0.8341 euros)

 (Reporting by Canan Sevgili)

 ((canan.sevgili@thomsonreuters.com))