Turkish firms’ foreign acquisitions $6.5 bln in two years

Turkish firms’ foreign acquisitions $6.5 bln in two years

Turkish companies’ overseas acquisitions totaled around $6.5 billion in the past two years, a new report issued by Deloitte has shown.

Turkish companies undertook 51 transactions in 2012 and 55 transactions in 2013, totaling $6.5 billion, according to the report.

Manufacturing, energy real estate, food and drink, infrastructure and tourism emerged as the leading sectors that Turkish companies were mostly interested in, constituting around 60 percent of overall acquisitions.

Foreign acquisitions were mostly carried out by middle- and large-scaled Turkish companies, according to the report, which stated that Turkish companies’ investments ranged over a wide geography mostly focused on Europe, followed by Commonwealth of Independent States, North America and Gulf countries.

In terms of individual countries, Italy, the United States and the United Kingdom were the favorites of Turkish entrepreneurs.