Long-standing Turkish brand sold to the Japanese: Competition Authority gives approval

The Competition Authority has approved the transfer of Polisan Kansai Boya's 50 percent Turkish partnership stake to Japan's Kansai Paint. With the completion of the 93 million dollar transaction, the entire company will belong to the Japanese partner.

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Approval has been received from the Competition Authority for the transfer that will change the partnership structure of Polisan Kansai Boya, one of the deep-rooted companies in the Turkish paint sector. With the transfer of Marmara Holding's 50 percent stake in the company to Japan's Kansai Paint, the entire company will belong to the Japanese partner.

93 MILLION DOLLAR SHARE TRANSFER

Polisan signed a partnership agreement with Japanese paint manufacturer Kansai Paint in 2016. Following the partnership, the company began to continue its operations under the name Polisan Kansai Boya.

While the company's shares were shared equally at 50 percent between Marmara Holding and Kansai Paint, the parties reached an agreement in recent months for the transfer of the 50 percent stake held by Marmara Holding to Kansai Paint for 93 million dollars.

COMPETITION AUTHORITY GAVE APPROVAL

With the Competition Authority allowing the share transfer, the way has been cleared for the entirety of Polisan Kansai Boya, which has been operating since 1985, to pass to Kansai Paint.

Marmara Holding stated in its disclosure to the Public Disclosure Platform (KAP) regarding the sales process that the Competition Authority has approved the share transfer.

The following statements were included in the disclosure:

“It was notified to our Company on 28.09.2026 by Kansai Paint that the Competition Authority has permitted the Share Transfer and that the prerequisite regarding the receipt of the necessary legal permissions within the scope of the Agreement has thus been fulfilled. Preparations for holding the extraordinary general assembly meeting regarding the Share Transfer will be initiated by our Company, and developments regarding the general assembly meeting and the process of completing the Share Transfer will be disclosed to the public fully and in a timely manner.”

Following the completion of the transfer of Marmara Holding's 50 percent stake, all shares of Polisan Kansai Boya will pass under the control of Kansai Paint.

News Source: 12punto