Mergers and Acquisitions value 6.87 Billion USD in 2023
In 2023, the Competition Authority examined a total of 217 merger and acquisition transactions. Excluding privatizations, in 94 of these transactions, the target company was a company established under the laws of the Republic of Türkiye (Turkish origin). The total transaction value of these notified transactions was TL 162 billion 555 million (USD 6.85 billion). In the same period, 3 privatization transactions were examined and the transaction value of 3 of these transactions, for which tender processes were carried out, was approximately 425 million TL (18 million USD). Thus, the total transaction value foreseen for Turkiye-based companies in 97 transactions in 2023 is approximately TRY 163 billion (USD 6.87 billion). 113 of the transactions analyzed in 2023 are related to foreign mergers and acquisitions abroad. In these transactions, which do not envisage direct investment in Turkish companies, the total reported transaction value is TL 57 trillion 362 billion (USD 2.41 trillion).
Foreign Companies Made More Mergers and Acquisitions
Six (6) transactions were classified as out of scope since they did not result in a change in control, while one (1) transaction was taken under final review. In 48 of the 217 mergers and acquisitions examined by the Competition Authority in 2023, all parties were of Turkish origin, while in 118 transactions, all parties were companies established under foreign laws. In 41 transactions, at least one of the parties to the transaction was a Turkish company and a foreign company. This grouping was not made for a total of 10 transactions in the categories of out of scope, privatization and other. When all transactions excluding privatizations are taken into account, the total transaction value of mergers and acquisitions between companies with all parties originating from Turkiye is TL 81 billion 924 million (USD 3.45 billion). In the same period, the total transaction value of transactions in which all parties were foreign companies was TL 57 trillion 375 billion (USD 2.41 trillion). The reported transaction value of mergers and acquisitions in which at least one of the parties to the transaction is a Turkish and foreign company is TL 67 billion 293 million (USD 2.83 billion).
Germany ranked First in M&A Transaction
In 2023, foreign investors are expected to invest in Turkish companies in 35 separate M&A transactions. According to the ranking of foreign investors on a transaction-by-transaction basis, German investors ranked first with 8 transactions. In these 35 transactions where the target company is of Turkish origin, the reported investment amount to be realized by foreign investors is approximately TRY 68 billion (USD 2.86 billion). In 2023, the transaction value reported by foreign investors constitutes approximately 42% of the total transaction value foreseen for companies of Turkish origin, including privatizations.
The highest Transaction Value in Animal Production
In terms of economic activity, the highest transaction value in M&A transactions in which the target company is of Turkish origin was realized in "animal production". In the same period, the highest transaction value among privatization transactions was recorded in the field of "manufacture of apparel". In 2023, mergers and acquisitions notified to the Competition Authority were finalized on average 13 days after the deadline.
Source: Turkish Competition Authority, 2023
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