ROKETSAN Wins $471 Million ASSAN Group Auction: What the Acquisition Adds

ROKETSAN has won a TMSF-run auction for the defense industrial assets of ASSAN Group, paying $471 million against a $416.5 million opening price. The sale closed on 7 July 2026 at TMSF’s headquarters in Istanbul’s Esentepe district.

DEAL AT A GLANCE

Seller

TMSF (Turkish Savings Deposit Insurance Fund)

Buyer

ROKETSAN

Opening price

$416.5 million

Final price

$471 million

Facilities

Sincan (Ankara) and Gerede (Bolu)

Operating model

New, wholly-owned ROKETSAN subsidiary

ROKETSAN IDEF fuarındaki ürün standı — ROKETSAN IDEF fuarı standı. Kaynak: Wikimedia Commons (CC BY-SA 4.0)

Why was ASSAN Group under TMSF control?

ASSAN Group’s owner Emin Öner and general manager Gürcan Okumuş were detained in August 2025 as part of a military-espionage investigation by the Istanbul Chief Public Prosecutor’s Office. TMSF was appointed trustee (kayyum) over 10 group companies at the same time. An indictment against five suspects followed in February 2026, and TMSF subsequently put the group’s commercial and economic integrity up for sale as a single lot.

What ROKETSAN said it will do with the plants

ROKETSAN said it will operate the facilities through a new company that will be its wholly-owned subsidiary, rather than folding the plants directly into its own structure. The company said it plans new investment, technology transfer and infrastructure upgrades at the sites, and confirmed production will continue on Mk-series aircraft bombs, 107/122 mm rockets, GPS/guidance kits, 155 mm guided artillery ammunition, chemical explosives, and warheads for ROKETSAN’s ballistic missiles — including TAYFUN.

ROKETSAN ürün ailesinin sergilendiği stant — ROKETSAN ürün ailesi, Teknofest 2019. Kaynak: Wikimedia Commons (CC BY-SA 4.0)

Note on bidders. Some financial media reported ROKETSAN as the sole bidder. Defense industry reporters, citing sources, said four other firms — Kayı Savunma, Polsan Savunma, Azesan and Alkar Savunma — also submitted bids. No official bidder list has been published by TMSF; both versions are noted here.