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Foreign takeovers of Turkish companies triple in 2016

Foreign takeovers of Turkish companies triple in 2016

Foreign takeovers of Turkish companies triple in 2016

Foreign acquisition of Turkish companies in 2016 have tripled in comparison with the previous year, and have now reached a volume of 18.9 billion Turkish liras ($5.1 billion), data released by the Turkish Competition Authority said on Monday.

The Turkish Competition Authority reportedly examined 209 cases of fusions and takeovers during the past year, including privatization and extraordinary transactions. Out of these transactions, 34 were conducted for companies whose parties were all organized according to Turkish law and 107 transactions were conducted for companies entering business according to the laws of other countries, while 50 cases of transactions were processed for ventures in which Turkish and foreign companies participated.

While the total volume of transactions for companies with Turkish roots reached 29.3 billion Turkish liras ($7.9 billion) in 2016, investments for the takeover of Turkish companies reached 18.9 billion Turkish liras ($5.11 billion). Fusions and takeovers for individuals and companies of foreign origin rose to a transaction value of 11.6 billion Turkish liras ($3.1 billion) and companies composed of both Turkish and foreign parties came close to a transaction value of 10.2 billion Turkish Lira ($2.7 billion).

Main areas of investment in 2016 were financial intermediary institutions with a transaction value of 8.2 billion Turkish liras ($2.2 billion), the production, transmission and delivery of electric power with 5.8 billion Turkish liras ($1.5 billion), followed by processing machines and machine tool production with 2.7 billion Turkish liras ($731 million) as well as cinema, video and TV programs at 2 billion Turkish liras ($541 million) and trade in agricultural staples and livestock at 1.6 billion Turkish liras ($433 million).

Leader in terms of foreign invesments into Turkish companies for the past year are the Netherlands with a total of nine takeovers of Turkish companies. They are followed by Germany, with six transactions, English and Japanese investors at four and U.S.-, French, Swiss and Korean investors at three investment transactions each.

Source: Daily Sabah

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GoodMorningTurkey.com is your online news source about Turkey which has become one of the most closely followed and frequently discussed countries in the world. Turkey is increasingly becoming involved in world affairs, with its positive economic developments and intercultural interactions. Being strategically located between Asia, Europe and Middle East, geographically Turkey is playing an important role in the world affairs. Turkey has become world focus, and a role model country for many surrounding neighbors as a result of the recent developments and changes in the region.

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