Economy: Turkey; foreigners' share in M&A drops sharply

10 January, 11:55

    (ANSAmed) - ISTANBUL, JANUARY 10 - Mergers and acquisitions in Turkey totaled USD 17.5 billion in 2013, marking a 20% retreat from 2012, revealing a steep drop in foreign investment appetite in the country, daily Hurriyet reports quoting a survey from a research company. According to Deloitte's 'Mergers and Acquisitions 2013' report, 217 mergers and acquisitions (M&A) transactions, mostly driven by energy privatizations, amounted in USD 17.5 billion in 2013, indicating a 15% fall in terms of units and 20% in terms of amount. The M&A volume in the country were mostly undertaken by local investors as foreign investor transactions have dropped by a quarter, touching historically low levels, the report also discovered. Foreign investors' transaction volume recorded a 60% drop compared to last year, totaling USD 5.2 billion, constituting 47% of overall activities. Primarily American and European investors were the ones who have started shying away from the Turkish market, with Far Eastern investors standing out for the first time. "The momentum achieved in mergers and acquisitions was interrupted in 2013 due to sociopolitical tension in the domestic market and the Feed decision's impact on emerging markets," Deloitte Turkey Corporate Finance Partner Basak Vardar said during a meeting held to present the report. (ANSAmed).

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