Carmaker Tofas gets Turkish antitrust authority nod to takeover of Stellantis Otomotiv

Tofas Turk Otomobil Fabrikasi

18/04/2025 17:34

ISTANBUL, April 18 (Reuters) - Turkey's competition board said on Friday that it approved Tofas' takeover of Stellantis Otomotiv on condition of an investment plan and additional commitments submitted by the parties.

In a statement, the antitrust authority said it accepted the second commitment package presented by the parties, including an investment plan, protection of domestic production and measures to be taken in distribution/sales channels.

In 2023, Turkey's Tofas said it signed agreement to purchase all of Stellantis Otomotiv shares and its operations and distribution rights of Stellantis brands, such as Peugeot, Citroen, Opel and DS Automobiles in Turkey. An initial commitment package was deemed insufficient by the competition board.

 (Reporting by Ezgi Erkoyun and Ebru Tuncay; Editing by Alison Williams)

 ((ezgi.erkoyun@thomsonreuters.com; +90-212-350 7051; Reuters Messaging: ezgi.erkoyun.thomsonreuters.com@reuters.net;))