The Qatar Armed Forces Industry Committee (AFIC) has applied to Turkey’s Competition Board (RK) to acquire 49% of commercial and military vehicle manufacturer BMC from local finance house ES Mali Yatirim (ES Financial Investment), RK announced on its website on 2 June.

ES Mali Yatirim had bought the bankrupted commercial and military vehicle manufacturer from Turkey’s state-owned Savings Deposit Insurance Fund’s (TMSF) board in a tender held on 2 May. The Turkish company was the sole bidder in the tender, offering TRY751 million (USD357.5 million).

TMSF had confiscated the assets of BMC in May 2013 in return for the company’s outstanding debts after it went bankrupt. […]