ALJ Lubnatsi Marketing and Sales PLC, a subsidiary of Saudi Arabia-based Abdul Latif Jameel Co. (ALJ), has finally acquired 64.99% stake of Turkey-based Sabanci Holding in ToyotaSA.

Sabanci Holding is the parent company of the Sabanci Group, Turkey's leading industrial and financial conglomerate.

Under the arrangement, ALJ Lubnatsi will become the major shareholder in the Toyota Turkiye Motorlu Araclar A. S. (Toyota Turkey Motor Vehicles Plc) while 25% of the company will be owned by Toyota Motor Europe and 10% by Mitsui & Co.

ALJ is currently Toyota's largest independent distributor in the world. The company is the distributor of the motor vehicles of the Toyota Group (Toyota, Lexus and Daihatsu) in 12 countries including Japan, England, Germany, China, Egypt, Monaco, Morocco, Algeria, Sudan, Saudi Arabia, Syria and Turkey.