3/27/2009

Energy to lure investments during financial crisis

Taraf – Turkey will attract investors with its lucrative energy sector during the ongoing global financial crisis. PriceWaterhouseCoopers (PwC), an international consultancy and audit company, prepared two reports titled ‘Oil & Gas Deals: 2008 Annual Review’ and ‘Energy Deals: 2008 Annual Review’, specifying global mergers and acquisitions in the energy sector. Evaluating the reports, Faruk Sabuncu, PwC Turkey Energy - Utilities and Mining Leader, stated that mergers and acquisitions in Turkey reached a total of USD 6.6 billion, breaking a record with 19 transactions. Sabuncu added, “Turkey performs well as a safe haven for energy deals. The investments in privatizations, hydroelectric power plants and wind energy will continue in the coming period despite global crisis.”

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