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Turkey Leading Growth in Mergers and Acquisitions

Posted on 06 October 2011

Further proof that Turkey is one of the hottest emerging markets in the world has emerged in new research by Bloomberg on global mergers and acquisitions. According to the research Turkey is now well above the BRIC nations in terms of mergers and acquisitions as more deals are signed in the country since 2008.

The number of transactions involving Turkish targets has grown by 55% to $8.8 billion in the space of a year according to the data, putting the level above that seen when Lehman Brothers failed in September 2008. Russia wasn’t far behind, with transactions up 50%, but activity declined in Brazil, India and China.

The increase in mergers and acquisitions can only be a good thing for Turkey. The current account and trade deficits are one of the country’s few remaining economic hurdles. By joining forces with operations from outside the country, Turkish companies can hope to expand their businesses on a global basis, which would help to close the deficits.

According to the Bloomberg stats, most of the M&A transactions are going through JPMorgan Chase and Co in Istanbul. Emre Yildirim a chief executive at the branch said:

“What has brought Turkey into focus along with BRIC countries is that it combines high levels of potential growth with large size. Turkey is large enough to move the needle for many global companies.”

Pragma Corporate Finance, another Istanbul-based M&A adviser has “never been busier” according to managing director Kerim Kotan. “Despite all the global uncertainties and risks, it seems as if everyone wants a piece of Turkey. Over the past 15 years in investment banking in Turkey, I cannot recall a period when we have been busier,” she said.

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