Koc Holding Lifts Its RMK Marine Stake to 88.37pc

How did Koc Holding's stake in RMK Marine change in 2026, and by how much?

Koc Holding's stake in RMK Marine rose in two steps this year, from 74.91 percent before February to 83.73 percent after a TL2.5 billion capital increase, then to 88.37 percent after a further TL2.698 billion injection disclosed in July, according to filings SuperYacht Times reported from Turkey's public disclosure platform, KAP.

According to a disclosure Koc Holding published to KAP (Kamuyu Aydinlatma Platformu), Turkey's public company disclosure system, and reported by SuperYacht Times, Koc Holding already held 74.91 percent of RMK Marine before February 2026. A capital increase that month, funded with a TL2.5 billion cash injection from Koc Holding, took its stake to 83.73 percent.

A second, larger move followed. RMK Marine's paid-in capital rose from TL177.8 million to TL248.8 million, an increase of TL71 million, and Koc Holding participated in that increase with TL2.698 billion in cash - exercising both its own pre-emption rights and the unexercised rights of other shareholders who chose not to inject further capital themselves. That combination lifted Koc Holding's stake to 88.37 percent as of the July 2026 disclosure, meaning the remaining minority position across all other RMK Marine shareholders now sits at under 12 percent. Neither company has named the remaining minority shareholders or disclosed whether any of them declined the July offering by choice or by inability to fund their share, leaving that detail, like the deal terms themselves, outside the public record.

What kind of company is RMK Marine, and where does the yacht business sit inside it?

RMK Marine is a Turkish shipbuilder spanning commercial, naval and superyacht platforms, with its yacht business run through the RMK Yachts division - known for restoring the 1901 steam yacht Cangarda and for building the 36.86-metre explorer yacht Seven Seas, delivered in 2024.

RMK Marine's own description of its business, cited by SuperYacht Times, spans 'a wide range of advanced vessel platforms in the commercial, naval and superyacht industry' - meaning the yard's yacht work sits alongside government and commercial shipbuilding contracts inside the same corporate structure, rather than as a standalone specialist builder the way Feadship or Heesen operate.

Inside that structure, RMK Yachts is the division a Yotters reader would actually encounter: its restoration of the 116 GT, 1901-built steam yacht Cangarda (not currently for sale, per SuperYacht Times' listing) sits as a heritage flagship alongside its new-build flagship, the 36.86-metre, 399 GT explorer yacht Seven Seas, launched in 2024 and currently listed for sale through SuperYacht Times at EUR 13,900,000 - a concrete data point on what RMK Yachts' own product actually trades for, in a market segment where asking prices are rarely this easy to verify. Cangarda is itself a rare case in the industry: a wooden-hulled, coal-and-steam-era yacht built in 1901 by Pusey and Jones, restored by RMK Yachts to running order rather than converted to modern propulsion, which the division uses as a public demonstration of shipwright skill separate from its new-build explorer line.

Why is Koc Holding doubling down on RMK Marine right now?

The timing lines up with RMK Marine's own February 2026 announcement that construction had begun on a new, 70,000-square-metre shipyard dedicated to yacht building in Yalova, Turkey - suggesting the fresh capital funds that expansion rather than plugging an operating shortfall.

RMK Marine announced in February 2026 that it had begun construction on the Yalova facility, a yard SuperYacht Times reports is dedicated specifically to yacht building rather than the commercial and naval work RMK Marine also carries. The same month's capital increase, which took Koc Holding's stake from 74.91 to 83.73 percent, lines up with that announcement closely enough that funding the new yard is the more plausible read than a rescue capital call - though neither company has stated the capital increases' purpose in those terms.

Koc Holding itself operates at a scale that makes a TL2.7 billion injection a modest line item: the conglomerate said earlier this month that it had made combined investments of USD 1.7 billion across its portfolio in the first six months of 2026 alone, concentrated in energy, automotive, consumer durables and finance. RMK Marine is a small piece of a very large group, which is precisely why a majority owner willing to keep funding capital increases is a meaningfully different backer than an independent yard's typical mix of private equity or family capital.

What does Koc Holding's move mean, practically, for a prospective RMK Yachts buyer?

A capital increase raises the yard's paid-in capital and consolidates ownership; it does not by itself change build capacity or price, but it does answer a buyer's basic solvency question with more certainty than an independent, minority-owned yard typically can.

For a buyer evaluating any shipyard before signing a build contract, the questions that matter are simple and rarely asked out loud: who owns the company, how deep are its reserves if a project runs long or costs rise, and what happens to an in-build hull if the yard's finances turn. A yacht-building division that is 88.37 percent owned by a conglomerate the size of Koc Holding has a straightforward answer to the second and third questions that an independently financed yard cannot always give. That question is not hypothetical. Kadey-Krogen Yachts and its American Tug subsidiary, both far smaller builders than RMK Marine, filed for Chapter 7 bankruptcy in July 2026, leaving at least six or seven owners with deposits down on yachts still in build, one of them paid in full, according to Trade Only Today. It is exactly the scenario a conglomerate-backed yard is better placed to avoid.

What the stake increase does not do is change RMK Yachts' build capacity today, its current order book, or the price of a Seven Seas-type explorer. The new Yalova yard, once operational, is the more relevant future signal for capacity - and its completion date has not yet been announced by RMK Marine or reported by SuperYacht Times.

How does this fit the rest of 2026's yacht-building ownership news?

The RMK Marine stake increase is one of several ownership moves in the sector this year - alongside a separate sale process for Italy's The Italian Sea Group, which opened bidding for its brands, yards or full company in August with a mid-September deadline for initial offers - underlining how much of 2026's launch-season coverage sits on top of a parallel story about who owns the yards behind it.

SuperYacht Times' own mergers-and-acquisitions coverage this year lists RMK Marine's stake increase alongside Sanlorenzo backing a consortium bid for The Italian Sea Group's business undertaking in July, Baglietto confirming interest in TISG's La Spezia assets in mid-August, and a separate deal in which Richard Liu's Sea Expandary acquired an 80 percent equity stake in Oceanwalker Yachts in late August - a run of consolidation across the industry inside a single month.

None of those other deals directly involves RMK Marine, and this desk is not asserting a connection beyond the calendar. The point for an owner or prospective buyer is narrower and more useful: a shipyard's ownership structure can change materially in the middle of a multi-year build contract, and 2026 has already produced enough examples - RMK Marine included - that asking a yard who owns it, and how that has shifted recently, belongs in the same due-diligence conversation as hull number, delivery date and price.