Trade: Turkish-companies-on-prowl-in-foreign-markets
31 January, 11:18
(ANSAmed) - ISTANBUL, JANUARY 31 - Turkish firms in the past five years have made 68 foreign acquisitions totaling 7.5 billion USD in revenues, according to a report released by Deloitte Turkey and published by daily Hurriyet. In 2011 alone, Turkish companies made 26 overseas acquisitions worth 2.9 billion USD. While the report highlights Yildiz Holdings' purchase of Godiva Chocolates as Turkey's most noteworthy overseas purchase, Turkish firms have shown interest in the food and beverage, service, telecommunication, logistics, production and financial services sectors. Other noteworthy Turkish acquisitions, according to the report, are Hurriyet's purchase of Trader Media East, Anadolu Efes' purchase of SABMiller in Russia and Ukraine and Eczacibasi's acquisition of Villeroy&Boch's tiles. Turkish firms are most interested in acquiring a 100 percent or majority share in overseas companies, the report said. Some firms prefer to invest with local partners familiar with the market. The report also said the most important factors for Turkish firms to consider when investing abroad is their opportunity to gain access to new brands and labels, spicing up the market and gaining competitive advantage.
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