2/7/2012

Bahraini Venture Capital invests in Turkish fruit juice maker

Zaman / Sabah - Venture Capital Bank and Bank Alkhair of Bahrain have acquired Turkish fruit juice producer Goknur Gida’s 65 percent stakes for USD 100 million in a deal signed at the First Turkey- Gulf Cooperation Council (GCC) Business Forum held in Istanbul. About USD 30 million of the investment will be used to raise the capital of Goknur Gida, exporting beverages to more than 50 countries.

Attended by Turkey’s Minister of Economy Zafer Caglayan, Minister of Customs and Trade Hayati Yazici, President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB) M. Rifat Hisarciklioglu, Chairman of the Federation of Chambers of GCC countries, Shaikh Saleh Kamel and GCC Assistant Secretary-General for Economic Affairs Abdullah Bin Juma Al- Shibli, the signing of the partnership agreement is the first of the deals within the scope of the MoU inked last year between the Investment Support Promotion Agency of Turkey (ISPAT) and the Bahrain Economic Development Board. The first step of the Bahraini company into Turkey will be followed by new investments in the food sector and is likely to expand to the real estate and pharmaceuticals industries. The company also plans to enter urban transformation projects that focus on restoring old buildings.

Turkey has received over USD 10 billion worth of investments originating from the Gulf countries during the last decade, according to consultancy group Gulf-Turk Capital. The country is expected to triple the amount with lucrative investment projects in the next 3-5 years. Gulf funds are known to be interested in Turkey’s urbanization, energy, healthcare, real estate, manufacturing and infrastructure projects.
Turkey; gcc investments turkey; turkey gcc capital; turkey gulf countries; Venture Capital Bank; Bank Alkhair; Goknur Gida