Lower average deal size than recent years

Despite the large-scale transactions by Yildirim Holding (Puerto Bolivar Harbor – $750 million),

Arcelik (Dawlance – $258 million) and Dogus Group (Hotel Villa Manga – $196 million and Hilton Athens

Hotel – $155 million), the average deal size was $57 million, lower than in recent years (2015 - $100 million; 2014 - $159 million) and the last decade average - ($90 million). Transactions with a deal value less than $20 million represented more than half of the overall deal .