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Turkish Competition Board’s 2022 Merger and Acquisition Outlook Report has been published on 06.01.2023

Turkish Competition Board’s 2022 Merger and Acquisition Outlook Report has been published on 06.01.2023. 

[The report can be accessed via the link: https://www.rekabet.gov.tr/Dosya/bd_gorunum_raporu_2022.pdf ]

The report, which was prepared within the framework of the data on Mergers, Acquisitions and Privatization transactions concluded by the Competition Board in 2022, mainly includes the following determinations:

• In 2022, a total of 245 Mergers, Acquisitions and Privatization transactions were examined by the Competition Board.
• Excluding privatizations, in 82 of these transactions, the target company is the companies (Turkish origin) established under the laws of the Republic of Turkey.
• The total transaction cost of these reported transactions is approximately 72 billion 209 million TL.
• In the same period, 7 Privatization transactions with a total transaction value of approximately 14 billion TL were examined.
• Thus, the total transaction value envisaged in 89 transactions for companies of Turkish origin in 2022 is approximately 86.2 billion TL.

Transactions in Turkey

• In 2022, among the Mergers and Acquisitions in which the target company originated in Turkey, the most transactions are in the field of "Generation, Transmission & Distribution of Electrical Energy’ with 8 transactions. The highest transaction value also was reported in the same area with approximately 8.35 billion TL.
• While the 7 Privatization transactions examined in the same period were related to the "generation, transmission and distribution of electrical energy", "airport management", "natural gas import and distribution" and various sub-branches of the "manufacturing" sector; The highest cost privatization transaction is in the field of “airport management” with approximately 9.75 billion TL.
• In 2022, it has foreseen to invest in companies of Turkish origin in 36 separate mergers and acquisitions by foreign investors. According to the ranking made on the basis of transactions among foreign investors, investors who are from Netherlands and United Arab Emirates in the first place. In these transactions, which the target company is of Turkish origin, the amount of investment reported to be made by foreign investors is approximately 43 billion TL.
• In addition, 145 mergers and acquisitions transactions carried out abroad by foreigners were also examined in 2022. In these transactions, which no direct investment is foreseen in companies of Turkish origin, the total transaction value reported is 5 trillion 570 billion TL.
• The prominent areas in the classification of 181 transactions (36 in Turkey and 145 abroad) that foreign investors plan to perform at the global level in 2022 are as follows:
  • Wholesale and retail trade and repair of motor land vehicles and motorcycles
  • Programming and publishing activities
  • Installation and repair of machinery and equipment
  • Manufacture of basic pharmaceutical products
  • Financial services
• In 2022, the Competition Board decided on Mergers and Acquisitions an average of 15 days after the last notification date. 3 transactions were taken into ultimate examination. In one of these transactions, the transaction has been authorized, and the investigation processes are continuing for the others.