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ALJ buys Toyota Turkey stake
- Saudi Arabia: Sunday, August 16 - 2009 at 10:09
ALJ Lubnatsi Marketing and Sales PLC, a subsidiary of Saudi Arabia-based Abdul Latif Jameel Co. (ALJ), has bought 64.99% of Turkey-based Sabanci Holding's stake in ToyotaSA, in which it partnered with Toyota Motor Europe and Mitsui, Arab News has reported. Under the new deal, ALJ Lubnatsi will become the major shareholder in the Toyota Turkiye Motorlu Araclar A.S. (Toyota Turkey Motor Vehicles Plc) while 25% of the company will be owned by Toyota Motor Europe and 10% by Mitsui & Co. ALJ is the distributor of the motor vehicles of the Toyota Group (Toyota, Lexus and Daihatsu) in 12 countries including Japan, England, Germany, China, Egypt, Monaco, Morocco, Algeria, Sudan, Saudi Arabia, Syria and Turkey.
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StaffSunday, August 16 - 2009 at 10:09 UAE local time (GMT+4)
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