11/10/2010

M&A activities in Turkey reach EUR 10 billion by Q3

Hurriyet Daily News - Turkish mergers and acquisitions (M&A) soared this year, with the value of deals made hitting the EUR 10 billion mark by the end of the third quarter, professionals at Tuesday’s M&A Forum 2010 in Istanbul said.

Turkey’s leading dealmakers met at the inaugural forum to discuss the landscape of mergers and acquisitions in the country. Turkey’s position as a hub of global trade and its rapidly growing economy make for an attractive target market for cross-border investors, they said.

“Turkey is undergoing a real change as its companies expand to Central Asia and the Middle East, and recently even to Africa,” said Tezcan Yaramancı, Deputy Chairman of the Turkish-British Business Council of the Foreign Economic Relations Board of Turkey (DEIK). As the country’s favorable economic conditions continue, more private equity companies will be playing a role in raising capital, he added.

According to official data from Mergermarket, an M&A intelligence service, most deals in Turkey have taken place in the energy, mining and utilities sectors, accounting for nearly 40 percent of the nation’s total M&A deals. Analysts predict the Turkish market is set to experience a flurry of M&A activity.
turkey; merger; acquisition; m&a; mergermarket; m&a deal; deik; private equity; tezcan yaramanci