Carrier to Exit Turkey’s Alarko Carrier as Alarko Holding Acquires 42% Stake

Carrier to Exit Turkey’s Alarko Carrier as Alarko Holding Acquires 42% Stake

TURKEY: Alarko Holding has agreed to acquire Carrier’s 42% stake in Turkish HVAC manufacturer Alarko Carrier for US16.8 million, moving to end their long-standing joint venture. The agreement, signed on August 7, is expected to close within six months, subject to regulatory approval, including Türkiye’s Competition Authority. Once completed, Alarko Carrier will become a subsidiary of Alarko Holding. As part of the restructuring, Carrier and Toshiba brand-related activities will be separated, with selected inventories, contracts and obligations transferred to a Carrier affiliate. Alarko Carrier will subsequently discontinue operations under both brands. The company operates production facilities in Kocaeli and Eskişehir.

Source: Türkiye Today