Turkey M&As Reach $4.5b in H1

While 55 mergers and acquisitions were realized in Turkey in the first half of this year, the total volume of the announced transactions reached $4.5 billion, with foreigners taking up to roughly 69% of the transactions, corresponding to $3.1 billion.

According to information compiled by Anadolu Agency from Earnst & Young operating in independent auditing, consultancy, corporate finance and taxation, 55 mergers and acquisitions took place in Turkey in the first six months of the year.

Of the 55 transactions, 32 were disclosed and information about 23 transactions was not. The total volume of disclosed transactions was estimated at $4.5 billion.

The total volume of the announced mergers and acquisitions was $4.6 billion in 2016, $10.7 billion in 2015, $17.7 billion in 2014, $ 3.7 billion in 2013, $23.2 billion in 2011 and $11.5 billion in 2011.

According to EY data, Turkish investors made 26 transactions totaling $1.4 billion while foreign investors made 29 transactions corresponding to $3.1 billion in the first half of the year.

Turkish investors undertook transactions worth $5.1 billion in 2011, $11.5 billion in 2012, $10.4 billion in 2013, $13.1 billion in 2014, $4.1 billion in 2015 and $2.1 billion in 2016, while foreign investors invested $6.4 billion in 2011, $11.7 billion in 2012, $3.3 billion in 2013, $4.6 billion in 2014, $6.6 billion in 2015 and $2.5 billion in 2016 in transactions.

In the scope of the sectoral distribution of mergers and acquisitions, energy ranks first with $2 billion. Financial services came second with $921 million, followed by transportation with $396 million, imports with $372 million, food and beverages with $285 million, retail with $255 million and mining with $205 million.

The sale of all OMV Petrol Ofisi stake to Dutch Vitol Investment for $1.4 billion was recorded as the biggest transaction of the year.

The transfer of 9.95% of Garanti Bank shares to Spanish BBVA at $917 million and the purchase of all Osmangazi Electric Dag?tiom-Osmangazi Elektirk Perakende Satis stakes by Zorlu Energy at $360 million are the two biggest transactions while Korozo Ambalaj, Banvit, Ulusoy Ro-Ro, Park Elektrik, Unit International, TAV Airports Holding and Migros share sales and transfer of operating rights come to the fore as the other prominent transactions of the year.