Foreign buyers line up for Turkish firms

Referans - Foreign investors, who in the past focused on Türkiye's financial sector, are signaling their desire to expand their focus to areas like cinema and food this year. Foreign companies, thanks to professional support they receive from international consultancy firms, are currently seeking to invest in almost every sector, from food to ready-to-wear, from automobiles to energy, and even to marketing and advertisement. Not only big firms, but also small and medium size enterprises (SMEs) are being closely watched by foreign companies. A number of international consultancy firms have said 2008 will witness a striking number of cross-border mergers and acquisitions involving Türkiye. Domestic firms have also begun applying to consultancy firms, preparing for mergers, business daily Referans has learned. The most striking rumor occupying the agenda in the first days of 2008 is a possible merger by CNR International Trade Fairs Inc. It is claimed that the company is in “warm contact” with a Dubai company. Türkiye, practically a production base of giant firms in the automotive sector, is also expected to have vivacity in automotive parts supplier industry in 2008. Omer Burhanoglu, chairman of the Automobile Suppliers Association (TAYSAD), said 20 or 30 domestic firms are currently in contact with foreign companies about possible acquisitions or mergers.