“Turkish M&As steady in 2016”
BAŞAK VARDAR, PARTNER / M&A ADVİSORY LEADER - DELOİTTE TURKEY
In a challenging business environment, Turkish corporates remained keen on diversifying their investments outside of Turkey within the context of their longterm expansion strategies. Despite political tension in domestic and neighboring markets and the depreciating lira, their appetite to become regional and global players via cross-border acquisitions endured. The volume of foreign deals by Turkish investors in the last decade totalled $26.3 billion in 292 transactions. Though 2017 is expected to be sluggish for outbound M&A activity due to diminishing profitability coupled with the lesser availability of funds, Turkish investors are likely to continue to pursue both opportunistic and strategic investments abroad.