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Istanbul Fashion Week >>
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Bozcaada >>
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1st Istanbul International Opera Festival >>
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Open Air Museums in Turkey >>
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Current News
Demand for Turkish companies reaches new heights
January 18, 2010
Hürriyet Daily News
The mergers and acquisitions market has been quite active lately, not only because many companies are seeking to buy, but also because many are expecting to sell, and Turkish companies are taking their share
Turkey has found a valuable place for itself in the increasing mergers and acquisitions, or M&A, market.
Some of Turkey’s self-proven companies are turning heads overseas and grabbing the attention of international companies.
The offers are often directed to the companies operating in Turkey’s energy, logistics, health care, retail, food, infrastructure and mining industries, according to monthly business magazine Capital.
Boydak Holding, which is operating in various industries including furniture, textile, and cable and wireless, is among the Turkish companies that are turning heads. The company’s Chief Executive Officer Bekir Boydak said the company has recently been offered partnership deals from several companies located in the United States and Europe for its operations relating to the furniture industry.
Representatives of the ALJ Group, which recently purchased Toyota SA, said many textile and construction companies contacted the company requesting to be acquired by it.
Istanbul-based Universal Hospitals Group, which has taken a leap via its local and international hospital chains, has also been a focal point of attraction. “It’s been raining offers. Some involve partnerships, other to acquire small shares of the company,” said Azmi Ofluoğlu, the group’s board chairman.
All the action is proof for the increasing M&A activity around the world and in Turkey. The high activity is coming from companies that have managed to maintain a strong fiscal structure and those who have failed to do so. Those who were not strong enough to hold their own against the crisis have become open to purchase offers.
Certainly energy is among the most attractive industries for investors. That is an area where Balıkesir-based energy company Best Trafo takes the lead with the offers it has received. Founded in 1966, Best Trafo has displayed rapidly increasing growth, especially in the past five years. Since 2004, the company increased its turnover 14 fold, said Capital magazine.
“Most of the offers we receive are from transformer companies located in Turkic republics and the Middle East,” said Sırrı Yırcalı, vice chairman of the board of Best Trafo. “Best Trafo is the fastest growing transformer producer in Europe and the Middle East. Most of the requests are to establish joint ventures with the company within their countries and benefit from our know-how.”
Ağaoğlu Group, one of Turkey’s most prominent construction companies, has been getting a lot of requests from international companies to develop joint projects.
Akman Holding, which operates in the food, automotive and real estate industries, has been receiving partnership requests in these sectors. The company has also been receiving partnership offers in areas it is not even involved with, including petrochemicals, textile and energy industries. Some companies are even requesting to be acquired by Akman Holding.
CMS Jant, which manufactures high-quality wheel models, has been receiving partnership requests from companies that are operating in Eastern Europe and in Russia.
Doğtaş Mobilya, a furniture company, has been offered strategic partnerships by local companies. The offers pouring in from Gulf capital companies are to set up partnerships. The company received two offers within the past two months.
Many U.S.- and European-based funds have requested to purchase Orka Group, a textile company that has marked its success via its brands Damat, Twin and ADV. Lately Gulf capital has also been keeping a close eye on the company, according to Capital magazine.
Efes Biracılık, Turkish brewer owned by Anadolu Group, which was recently listed among the top 50 Russian retail brands with its two products, has been in high demand by the companies located in Eastern Europe. Many small Anatolian companies have been offering to sell shares to Kiler Holding, which has recently focused on organic production.
MOL, a construction company that has been displaying significant growth in local and international markets, has grabbed the attention of companies operating in Italy, Hawaii and Kazakhstan. Gulf capital, European and U.S. companies have been seeking to collaborate or establish a partnership with the Reysaş Group, which operates in the logistics, entertainment, health care and software industries.
Yıldız Holding’s subsidiary Ülker has been receiving requests from various companies seeking to be acquired. Many science companies have been knocking on the company’s door as well. ETS Group, operating in Turkey’s tourism market, has been in high demand by foreign investors and funds. DRD Derin Dere Filo Kiralama, a fleet rental company, has been offered deals by leasing companies operating in the industry as well as local and international financial leasing companies.
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