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Turkish Competition Board Mergers And Acquisitions Outlook Report For 2023 Has Been Published 01 February 2024

On January 5th, 2024, the Turkish Competition Authority has published the Report prepared by the Competition Board on Mergers, Acquisitions And Privatisation Transactions in 2023 ("Report").

The remarkable data's of the Report are as follows:
  • Total number of Merger and Acquisition transactions reviewed by the Competition Board in 2023: 217*
     

Tarafların Tümünün Türkiye Kökenli Şirketler Olduğu İşlemler / Transactions which All Parties are Companies Originating in Turkiye.

Tarafların Tümünün Yabancı Kökenli Şirketler Olduğu İşlemler / Transactions which All Parties are Companies Originating in Foreign Countries.

Taraflarından en az birer tanesi Türkiye ve yabancı kökenli şirketler Olduğu İşlemler / Transactions which at least one of the parties are Companies Originating in Turkiye and Foreign Countries.

48
İşlem/Transaction

118
İşlem/Transaction

41
İşlem/Transaction

81 milyar 924 milyon TL (3,45 milyar dolar)
TRY 81 billion 924 million ($3.45 billion)

Toplam işlem bedeli / Total Transaction Value

57 trilyon 375 milyar TL (2,41 trilyon dolar)
TRY 57 trillion 375 billion ($2.41 trillion)

Toplam işlem bedeli / Total Transaction Value

67 milyar 293 milyon TL (2,83 milyar dolar)
TRY 67 billion 293 million ($2.83 billion)

Toplam işlem bedeli / Total Transaction Value

*Compared to the 2022's data, the number of transactions decreased from 246 to 217.
  • Total Number and Total Transaction Value of Merger and Acquisition transactions that involving a Turkish origin company as the target company reviewed by the Competition Borad in 2023: TRY 162 BILLION 555 MILLION ($ 6.85 BILLION) WITH 94** TRANSACTIONS
     

**Compared to the 2022's data, the number of transactions increased from 82 to 94.
 
  • Total Number and Total Transaction Value of Merger and Acquisition transactions abroad among the transactions that carried out by foreigners in abroad reviewed by the Competition Board in 2023: TRY 57 TRILLION 362 BILLION ($2.41 TRILLION) WITH 113 TRANSACTIONS
     
  • Total number and total value of transactions in which foreign investors invested in Turkish companies among the transactions examined by the Competition Board in 2023: TRY 68 BILLION ($2.86 BILLION) WITH 35 TRANSACTIONS
     
  • According to the ranking of foreign investors among the transactions reviewed by the Competition Board in 2023, the most investing foreign country is: GERMANY with 8 transactions
     

BİRLEŞME VE DEVRALMALARDA YABANCI YATIRIMCILARIN ÜLKELERE GÖRE DAĞILIMLARI (2023)
DISTRIBUTION OF FOREIGN INVESTORS IN MERGERS AND ACQUISITIONS BY COUNTRY (2023)

YABANCI ÜLKE/FOREIGN COUNTRY

İŞLEM SAYISI/THE NUMBER OF TRANSACTION

Almanya / Germany

8

Hollanda / Netherlands

5

Lüksemburg / Luxemburg

3

Birleşik Arap Emirlikleri / United Arab Emirates

2

ABD / USA

2

Singapur / Singapore

2

Belçika / Belgium

2

İtalya / Italy

2

Birleşik Krallık / United Kingdom

1

Kanada / Canada

1

İsviçre / Switzerland

1

Fransa / France

1

Kore / Korea

1

Danimarka / Denmark

1

Rusya / Russia

2

İrlanda / Ireland

1
  • The Average transaction value for the last ten years in mergers and acquisitions: TRY 32 billion ($6.74 billion)
  • Transaction volume growth in 2023: APPROX. 125% IN TURKISH LIRA and 57.4% IN USD.
  • The MOST invested sectors across the world in 2023:

SIRA NO / RANKING NO

SEKTÖR / SECTOR

1

Bilgisayar programlama, danışmanlık ve ilgili faaliyetler / Computer programming, consulting and related activities

2

Programcılık ve yayıncılık faaliyetleri / Programming and publishing activities

3

Gıda ürünlerinin imalatı / Production of food products

4

Kimyasal ürünlerin imalatı / Production of chemical products

5

Temel eczacılık ürünleri imalatı / Production of basic pharmaceutical products

6

Motorlu kara taşıtlarının ve motosikletlerin toptan ve perakende ticareti ile onarımı / The wholesale and retail trade and repair of motor vehicles and motorcycles
  • The main fields of activity of the companies of Turkish origin that the MOST investments were made in terms of transaction volume in 2023:

SIRA NO / RANKING NO

FAALİYET ALANI / FIELDS OF ACTIVITY

TOPLAM İŞLEM DEĞERİ / TOTAL TRANSACTION VALUE

1

Tarım, ormancılık ve balıkçılık  / agriculture, forestry and fishing

36,8 milyar TL / TRY 36.8 billion

2

Ulaştırma ve depolama / Transport and storage

34,3 milyar TL / TRY 34,3 billion

3

Toptan ve perakende ticaret, motorlu kara taşıtlarının ve motosikletlerin onarımı / Wholesale and retail trade, repair of motor vehicles and motorcycles

30,1 milyar TL / TRY 30,1 billion
  • The economic activity area with the highest transaction value in mergers and acquisitions among the transactions reviewed by the Competition Board in 2023 that the target company is of Turkish origin: ANIMAL PRODUCTION
  • The most common area of economic activity in mergers and acquisitions among the transactions that the target company is of Turkish origin reviewed by the Competition Board in 2023: "GENERATION, TRANSMISSION AND DISTRIBUTION OF ELECTRICAL ENERGY" AND "COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES"
  • Mergers and acquisitions notified to the Competition Board in 2023 were finalised on average 13 days after the last notification date.

As Egemenoğlu Law Firm, we are pleased to state that we have contributed to the M&A transactions that took place in 2023 and covering many different sectors. In 2023, the essential transactions that we have closed are as follows:

Chemistry Sector

Advise Kale Kimya shareholders in the acquisition of all shares of Kale Kimya Kimyevi Maddeler Sanayi Anonim Şirketi by Univar Solutions.

Transportation Sector

Advise Savino Del Bene Group in the acquisition of the majority of Trans Okyanus Denizcilik Uluslararası Taşımacılık ve Dış Ticaret Anonim Şirketi and Boğaziçi Ekspres Denizcilik Lojistik Limited Şirketi, including Competition Board approval process.

Beverage Sector

Advise Tunay Gıda shareholders in the acquisition of the majority of Tunay Gıda Sanayi ve Ticaret A.Ş. shares by IBBL.
 

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