M&A TOTALED 125 IN 2021

The number of companies handed over in Turkey in 2021 totaled 118, while the number of privatizations amounted to seven, according to the Mergers and Acquisitions (M&A) report prepared by the Competition Authority. The institution approved sales of 125 companies at TRY 137.5bn. 50 Turkish companies were acquired by foreign investors. The takeover of Turkish companies by foreigners hit an all-time high of TRY 22bn. The operation rights for Antalya Airport, which amounted to EUR 8.5bn, or TRY 89.3bn, was among the most significant transactions. The amount of seven privatizations, including the airport’s operation, totaled TRY 95bn. The manufacturing industry had the highest value of transactions with TRY 19.7bn in M&A. Luxembourgish companies carried out 10 transactions, the highest number from any single foreign country. Luxembourg was followed by the U.S. with six transactions; the UK with five transactions; Austria, Netherlands, and Japan with three transactions each; and Germany, Belgium, China, and Switzerland with two transactions per country. MEHMET KAYA