BGC Partners: OTOKAR Company Update - BUY (Previously HOLD)
Otokar signs 5-year contract to build IVECO buses ... The agreement calls for Otokar to build >5,000 buses for Iveco for 5 years, starting at the end of 2021; with an option of automatic renewal for another 5 years. Otokar- IVECO BUS deal is a testament to Otokar’s expertise in bus manufacturing. Although the contract terms are not disclosed, we expect the deal to be both value accretive and strategically significant.Otokar Otomotive Ve Savunma Sanavi is engaged in the import, manufacture, assembly, sale and export of bodies, engines, and all other components of all kinds of land, sea and air defense vehicles, as well as security vehicles, commercial buses, trucks, minibuses, midibuses, panel vans, cross-country vehicles, etc. Co.'s primary focus is on the production of Land Rover 4x4 and minibuses.
BGC has been one of the major market players in Turkish OTC debt, FX and swaps markets since 1998.
We started offering corporate finance and investment banking services to our clients in 2013. We offer a complete range of financial services to help our clients achieve their goals. Our main areas of activity within investment banking are as follows:
- Mergers & Acquisitions
- Equity Capital Markets
- Debt Finance & Advisory
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