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Turkey Tr Annual Turkish m&a 060112

Turkey Tr Annual Turkish m&a 060112

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Published by Arda Kutsal

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Published by: Arda Kutsal on Jan 11, 2012
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Annual TurkishM&A Review 2011
Corporate FinanceJanuary 2012
Despite the turbulence in the Eurozone and thepolitical instability in the Arab region, oreigninvestors’ interest in the Turkish market remainedvery strong, rom strategic investors as well asprivate equity, resulting in a dynamic M&A marketagain in 2011.In 2011, a deal volume o c. US$15 billionmaterialized through 241 deals. Vitality in M&Aactivity continued well and the previous year’srecord number o deals was exceeded. On theother hand, the reection o such activity onthe total deal volume has been modest, as themajority o transactions in 2011 occurred in thesmall and mid-size segments, with a scarcity obig-ticket transactions, especially privatizations.While Turkey’s strong growth perormanceand healthy fnancial system act as catalysts ora healthy investment environment, Europe’sdeepening public debt crisis, coupled withTurkey’s current account defcit, ination risk anddiminishing growth orecasts signal a difcultperiod in the near term. Nevertheless, the dynamicmiddle market, secondary sales and investors’continued interest still promise an active M&Amarket in 2012.On behal o our corporate fnance team inDeloitte Turkey, I am delighted to share our annualTurkish M&A review, eaturing our analyses andviews regarding the M&A market here.
Başak Vardar
PartnerCorporate Finance

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