Foreigners invested $4.1B in local firms in 9 months
WHILE a total of 114 mergers and acquisitions took place in Turkey from January to September this year, the total volume of the announced transactions reached $5.9 billion, with foreigners taking up to nearly 70 percent of the transactions, corresponding to $4.1 billion.
According to information compiled by Anadolu Agency (AA) from Ernst & Young (EY), an independent audit, consultancy, corporate finance and tax company, a total of 114 mergers and acquisitions took place in Turkey in the first nine months of the year.
While the value of 64 transactions out of a total of 114 made during the JanuarySeptember period were announced, financial information regarding the remaining 40 transactions was not disclosed. The total volume of the announced 64 transactions reached $5.9 billion.
On the other hand, the total volume of mergers and acquisitions, the value of which were announced, was $4.6 billion in 2016, $10.7 billion in 2015, $17.7 billion in 2014, $13.7 billion in 2013, $23.2 billion in 2012 and $11.5 billion in 2011.
According to EY data, Turkish investors carried out 67 transactions in the ninemonth period, while foreigners conducted 47 transactions, corresponding to $1.8 billion and $4.1 billion, respectively.
Turkish investors had mergers and acquisitions of $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. Foreigners, on the other hand, carried out transactions of $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.
Considering the transaction value of mergers and acquisitions by sectors, the energy sector took the lead with $2.19 billion, followed by financial services with $1.37 billion, transportation by $921 million, manufacturing with $546 million, food and beverages with $364 million, retail with $255 million and mining with $205 million. The greatest number of transactions, 38, were conducted in the information sector, followed by the energy with 14 transactions, transportation with 13, manufacturing with 11, food and beverages with nine and the services sectors with eight transactions.