Economy & Markets· 3 Nov 2026
Türkiye Wealth Fund to become largest shareholder in Togg as Vestel and Anadolu sell stakes
The Türkiye Wealth Fund (TWF) announced that a share transfer agreement has been signed under which AG Anadolu Group Holding and Vestel Elektronik will sell their stakes in electric carmaker Togg to the TWF and Turkcell. Per disclosures to the Public Disclosure Platform (KAP), Anadolu is transferring 11% of Togg's total capital to Turkcell and 12% to the TWF for 184 million euros ($206.02 million), while Vestel is selling its entire 23% stake to the TWF for 184 million euros. Once completed, TWF's stake will rise to 35% and Turkcell's to 34%, making the TWF Togg's largest shareholder.
What it means for companies
Following completion of the transactions, the Türkiye Wealth Fund (TWF) will hold 35% of Togg and Turkcell 34%, replacing the previous structure in which Vestel, Anadolu Group Holding, Turkcell and BMC Otomotiv each held 23% and the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) held 8%.
Turkcell is relevant to the transaction itself: the TWF, through a subsidiary, holds a 26.2% stake in Turkcell.
The source also notes Togg's market performance: 19,583 vehicles sold in 2023, 37,426 sales in the first nine months of this year, and a 31% share of the Turkish electric vehicle market in the same period. Further transaction details are set out in the source.
Source: Daily Sabah (3 Nov 2026). This summary is for information only and is not tax, legal or investment advice.
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