Trade: Turkish-companies-on-prowl-in-foreign-markets

31 January, 11:18

(ANSAmed) - ISTANBUL, JANUARY 31 - Turkish firms in the past five years have made 68 foreign acquisitions totaling 7.5 billion USD in revenues, according to a report released by Deloitte Turkey and published by daily Hurriyet. In 2011 alone, Turkish companies made 26 overseas acquisitions worth 2.9 billion USD. While the report highlights Yildiz Holdings' purchase of Godiva Chocolates as Turkey's most noteworthy overseas purchase, Turkish firms have shown interest in the food and beverage, service, telecommunication, logistics, production and financial services sectors. Other noteworthy Turkish acquisitions, according to the report, are Hurriyet's purchase of Trader Media East, Anadolu Efes' purchase of SABMiller in Russia and Ukraine and Eczacibasi's acquisition of Villeroy&Boch's tiles. Turkish firms are most interested in acquiring a 100 percent or majority share in overseas companies, the report said. Some firms prefer to invest with local partners familiar with the market. The report also said the most important factors for Turkish firms to consider when investing abroad is their opportunity to gain access to new brands and labels, spicing up the market and gaining competitive advantage.

"With a possible economic slowdown and shrinkage in financial resources, we could see a lull in overseas acquisitions," said Deloitte Corporate Finance Partner Basak Vardar in the report. "However, for companies with sound capital, the financial crisis in other countries could offer strategic oppportunities," she added. The top five Turkish purchases from 2007 to 2011 were Anadolu Efes' purchase of SAM Miller in Russia and Ukraine, Yildiz Holding's acquisition of Belgian Godiva, Gubre Fabrikalari, Tabosan, Asya Gaz Enerji consortium's purchase of Iran's Razi Petrochemicals, Turkcell's purchase of Belarus Telecom, and Yildirim Holding's purchase of CMA CGM, a French logistics firm. (ANSAmed).

© Copyright ANSA - All rights reserved

Business opportunities

The information system of business
opportunities abroad

News from Mediterranean