Page 29 - TURKRptAug21

5.2 FDI
“The first quarter was not promising with only around $1bn in transaction volume but foreigners’ M&A activities are likely to gather pace,” Kerim Kotan at Ventura Partners said.
Foreigners’ M&A activities in Turkey amounted to $9bn in 2020.
The volume of M&A transactions peaked at $23.2bn in 2012, but declined to $2.7bn in 2019, the year after Turkey’s lira crisis.
Foreigners are interested in local companies that export more than 60% of their products, according to Kotan.
“They are looking for potential targets in the chemicals, logistics and food industries. Turkey is becoming a cheap and high-quality production base. An employee working at a company located in an organised industrial zone in Turkey on average costs their employee around €500 whereas the corresponding figure is €900 for China,” he said.
Major M&As in Turkey
Date
Sold
Stake
Price
Buyer
Seller
Jun-22
Ulusoy Un (ULUUN)
2.62%
TRY35mn
Ulusoy Un (ULUUN)
buyback
Sep-21
Kalamis Marina
40-year
on sale
Privatisation call
OIB
Jul-21
Trendyol
claim
$1.5bn
General Atlantic, Softbank (US)
Fundraising
Jul-21
Bel Medic (Serbia)
70%
-
Acibadem
-
Jul-21
Manas Enerji
39%
TRY77mn
IPO
-
Jul-21
Palm City (mall)
full
-
Yenisehir
Aerium(London)
Jul-21
Kartal Yenilenebilir
27%
TRY120mn
IPO
owners
Jul-21
Boxship
full
$3mn
Turkon
-
Jul-21
Esitas
100%
-
Arteche (Spain)
-
Jul-21
Gen Ilac
6.25%
TRY202mn
IPO
owners
Jul-21
Escar
20%
TRY132mn
IPO
owners
Jul-21
Hisarlar Makina
-
-
Erkunt Traktor
-
Jul-21
Tarkim
SPK
application
IPO
Gubretas (GUBRF)
Jul-21
18MW wind
100%
$30mn
Turkcell (TCELL)
Boyut Grup
Jul-21
TEIAS
-
-
Taken to privatization program
OIB
Jul-21
PCI Checklist
-
-
SC,Dayioglu,Tora,Erkmen
Fundraising
Jul-21
Hitit Bilgisayar
intention
-
IPO
Pegasus (PGSUS)
Jul-21
Kitopi (UAE)
-
-
Dogus
Fundraising
Jul-21
Arcelik (ARCLK)
10.00%
TRY2.4bn
Arcelik (ARCLK)
buyback
Jul-21
Koc Holding (KCHOL)
1.38%
TRY700mn
Koc Holding (KCHOL)
buyback
Jun-21
BLOK (Spain)
-
-
Getir
-
Jun-21
Dream Games
-
$155mn
Index,Makers,Balderton,IVP,Kora
Series B
Jun-21
WeBee
-
TRY6mn
DCP, Technology Innovation Fund...
Fundraising
Jun-21
Ronesans Isletme
100%
-
ISS (Denmark)
Ronesans
29 TURKEY Country Report August 2021 www.intellinews.com