Invest News DetailDünya - Of the total 241 merger and acquisition (M&A) deals that took place in Turkey during the last year, 138 were inked between a local and a foreign firm, according to the Turkish Industry and Business Association (TUSIAD) Chairperson, Umit Boyner. Speaking at the organization’s seminar entitled “M&As in Turkey: Staying competitive through partnerships”, Boyner underscored the high percentage of foreign participants in last year’s merger and acquisition activities, all of which valued at USD 15 billion. Turkey has achieved very high growth rates that attracted the attention of regional and global investors, she said on the Turkish economy’s high performance. Turkey’s GDP grew 8.9 percent and 8.5 percent in the last two years consecutively, when the effects of the financial crisis were still being felt worldwide. Mergers and acquisitions are a way to attain growth in a crisis environment. In parallel with its strong economic performance, Turkey has witnessed a lot of M&As, of both strategic and financial nature, the TUSIAD head noted. A previous report by consultancy firm Ernst & Young has put Turkey on the top spot in the total number of transactions in central and south-eastern Europe.