Sultan puts money in Yıldız firm
ISTANBUL - Hürriyet Daily NewsBrunei Sultan Hassan El Bolkiah has invested $100 million in Yıldız Holding’s Marsa, the butter company, for a 20 percent partnership, daily Sabah has reported.
Sultan El Bolkia has partnered with Turkey’s Yıldız Holding owned by Ülker family. His Holland-based company, Sultan’s Manolya Holding, has purchased 20 percent of Marsa Yağ, which exports butter to 60 countries including distant destinations like Argentina and New Zealand.
Yıldız has also established a company called Western Food and Packaging SDN BHD with an investment of $30 million in the Kingdom of Brunei, the world’s fifth wealthiest country in terms of per capita income.
The Sultan of Brunei’s interest in the Turkish market was apparently fueled last year when his fund, the Brunei Investment Agency, the world’s 24th largest state fund, purchased small stakes in local firms Migros and Akçansa.
Sabah quoted the Burnei Investment Fund’s president, Pehin Abu Bakar, as saying that his company was interested in quietly coming to Istanbul in the beginning of this year to invest.