Zaman - The merger and acquisition (M&A) activities in Turkey during 2011 left countries in central and south-eastern Europe lagging behind in number, according to consulting firm Ernst & Young’s Mergers and Acquisitions 2011 report. Turkey witnessed 272 transactions last year, with a total worth of USD 13.7 billion. Rising to the top spot in the total number transactions, the country was second only to Poland in total M&A worth in central and south-eastern Europe.
The approximate volume of the total 1,116 transactions that took place in the region, consisting of Turkey, Poland, Bulgaria, Croatia, the Czech Republic, Greece, Hungary, Romania, Serbia, Slovakia and Slovenia, reached USD 49.5 billion in 2011. Sizeable transactions in Turkey’s M&A market last year included the acquisition of the Turkish energy company Genel Enerji by British Vallares, the acquisition of the spirit producer Mey Ickı by Diageo, the acquisition of the hospital chain Acibadem by Malaysian IHH, and the privatization of Istanbul ferry services company (IDO).