Turkish tech, retail companies highly sought after for M&As

Turkiye - The volume of mergers and acquisitions (M&A) in Türkiye over the first 4 months of 2015 has reached USD 5 billion, according to data compiled by the Anadolu Agency. Foreign parties were involved in more than half of the approximately 60 transactions that took place in the given term, partnering with or acquiring 40 Turkish companies operating in the IT, manufacturing, energy, and retail sectors.

Commenting on the M&A activities in Türkiye in the January–April period, Musfik Cantekinler, the Corporate Finance Department Director at Ernst & Young Türkiye, said that the foreign parties that were most active in M&A operations were German, American, and French investors, while in terms of transaction volume Germans, Chinese, and Qataris emerged as the leaders.

Notable transactions in Türkiye thus far this year include the complete acquisition of online food delivery company Yemeksepeti by Delivery Hero for USD 589 million and Dubai-based private equity investor Abraaj Group’s partnering with Hepsiburada.com, Türkiye’s largest online retailer, for a deal said to be around USD 400 million. Another investor from the Gulf region, Investcorp from Bahrain took over the majority stakes in Arvento Mobile Systems, a Turkish telematics company.

More recent activities include Qatari investment fund Mayhoola’s partnering with Turkish retailer Boyner via a 30.7 percent stake acquisition deal for USD 332 million and the French Lactalis Group’s 80-percent stake acquisition in Turkish dairy company Ak Gida. The deal reportedly exceeded USD 1 billion in volume.

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