turkey

Turkey’s Deal Activity at a High Despite Politics and Summer

by

September 5, 2013

Investment banking activity in Turkey is “riding high”, despite a summer of political unrest, according to Reuters. Investment bankers expect to be even busier in the coming months as investors size up the country’s growing middle class and consumer-oriented economy.

 

Turkey was the eighth most targeted nation in Europe in the first half of 2013, with the value of mergers and acquisitions involving Turkish companies reaching USD10 billion (GBP 6.42 billion), up 15 percent from a year ago, according to Thomson Reuters data.

Other Key Facts About Turkey’s M&A Market

  • High-profile deals include Commercial Bank of Qatar’s acquisition of majority stake in Alternatifbank for USD 460 million and Malaysian state-run investment fund Khazanah Nasional acquisition of 90 percent of Acibadem Sigorta, a health insurance company.
  • Turkey’s attraction is the “appealing” fundamentals, and the government has also courted investors from Asia and the Middle East
  • Deals in the energy sector driven by privatisations will lead M&A activity in the coming period
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