ISTANBUL — Marmara Holding has signed a non-binding preliminary agreement to sell its entire 50% stake in Polisan Kansai Boya Sanayi ve Ticaret A.Ş. to Japan-based Kansai Paint for $93 million, according to a disclosure filed with Türkiye’s Public Disclosure Platform (KAP).
The proposed transaction represents Marmara Holding’s full shareholding in the Turkish paint manufacturer, which is jointly owned with Kansai Paint.
Under the terms of the preliminary agreement, completion of the deal remains subject to several conditions, including Kansai Paint’s due diligence review, the execution of definitive transaction agreements, and the receipt of all required regulatory approvals. The agreement is currently non-binding, meaning the transaction has not yet been finalized.
Marmara Holding also stated that disclosure of the negotiations had previously been postponed under a board resolution dated March 30, 2026, citing the uncertainty surrounding the early stages of the transaction process. The company announced the development after reaching the preliminary agreement.
If completed, the acquisition would give Kansai Paint full ownership of Polisan Kansai Boya, strengthening the Japanese coatings manufacturer’s presence in the Turkish market. Financial details beyond the agreed purchase price were not disclosed.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök