1/5/2012

Mergers and acquisitions in Turkey hit USD 15 billion in volume

Hurriyet - The volume of mergers and acquisitions (M&A) in Turkey reached USD 15 billion in 2011, according to a report published by Deloitte Turkey. Of a total of 241 transactions, 74 percent involved foreign parties, accounting for USD 11.1 billion.

The trend is consistent with the increasing amount of foreign direct investment Turkey attracted last year: USD 11.5 billion in the first 10 months, according to the auditing and consultancy company’s report. The majority of foreign buyers focused on the healthcare, financial services, manufacturing, food and beverage, e-commerce, and energy sectors. Private equities alone carried out 46 transactions to buy stakes in Turkish healthcare, food, and e-commerce companies. Privatizations, on the other hand, which constituted the bulk of M&A operations in previous years, were limited in number and volume during 2011, the report stated.

The four largest M&A operations, which account for 42 percent of the total volume of USD 15 billion, were listed as: 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).
turkey; economic growth; credit rating; merger; acquisition; m&a; deloitte turkey; turkish acquisitions; turkish mergers; diageo; vallares; turkey m&a market; turkey m&a report