Turkey’s M&A Landscape Sees Positive Momentum with $10.1 Billion Deal Volume in 2024

Turkey’s mergers and acquisitions (M&A) market experienced a significant boost in 2024, reaching an estimated total deal volume of $10.1 billion, including undisclosed transactions, according to the ‘Merger and Acquisition Trends 2024 from KPMG Perspective’ report. Despite a decrease in the number of transactions, the volume marked a record high, driven by economic reform policies and foreign interest.

KPMG Turkey’s Mergers and Acquisitions Services Leader and Corporate Partner, Özge İlhan Acar, highlighted the improved investment climate, stating, “The elections are behind us, Turkey is out of the grey list, and foreign interest has increased with the downward trend in inflation. Those who said ‘no’ to Turkey are now evaluating it.”

Key Insights from the 2024 M&A Report

  • Total Transactions: 475 deals.
  • Disclosed Deal Value: $5.3 billion.
  • Mega Deals:
    • The largest transaction was Kazakh Kaspi.kz’s acquisition of a 65.4% stake in Hepsiburada for $1.1 billion.
    • A $500 million advanced-stage investment in Insider by General Atlantic, a US-based financial investor, was the second-largest deal.

Compared to 2023, when disclosed M&A deals totaled $2.8 billion and undisclosed deals reached $7.5 billion, the transaction volume effectively doubled in 2024.

Sectors Driving Foreign Interest

Acar identified several high-growth sectors likely to attract foreign investors in 2025, including:

  • Technology, Gaming, and Artificial Intelligence: Continued demand for cutting-edge solutions.
  • Telecoms and Media: Expansion fueled by digital transformation.
  • Industrial Production and Automotive: Leveraging Turkey’s manufacturing capacity.
  • Health Sector: Strong interest from private equity funds in insurance and complementary health services.

Acar also noted interest from a German company planning investments in Turkey’s insurance market.

Banking and Economic Reforms Strengthen Confidence

The banking sector is poised for significant activity in 2025, with mobilizations expected across multiple players. Economic reforms, inflation control, and Turkey’s exit from the Financial Action Task Force (FATF) grey list have bolstered investor confidence.

Outlook for 2025

KPMG predicts the positive momentum to continue, supported by ongoing reforms and sustained foreign interest. Sectors like technology, healthcare, and industrial production are expected to maintain their appeal, while mega deals in emerging industries could further enhance Turkey’s investment profile.

Turkey’s ability to attract large-scale investments showcases its resilience and adaptability in a challenging global economic landscape.

 

 

 

 

Source: paraanaliz.com

Translation: Cem Cetinguc

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