Global M&A Trends Report |
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Turkey |
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(Europe)
Firm
Pekin Attorney Partnership
Contributors
Firat Yalcin |
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| With respect to private M&A, what are three things on top of mind for M&A practitioners in your jurisdiction? | Three things top of mind for private M&A practitioners in Turkey are:
Certain projects require a good relationship with governmental authorities, particularly Infrastructure and Energy projects. Companies have announced very high profits due to the high inflation in recent years and the effect of inflation on the target's profit shall be considered in determining the purchase price. In certain sectors, the legal document and contract management system may not be very good. Licenses required for business shall be closely reviewed and depending on the location of the targets and their branch, trial licenses might be provided. Such situations shall be subject to Legal Due Diligence. |
| With respect to private M&A, where does your jurisdiction see most deal activity? | Most private M&A deal activity is categorized as mid-market. |
| With respect to private M&A, what sector sees the most deal activity in your jurisdiction? | Most private M&A deal activity is seen in the Technology, Media and Telecommunications sector. |
| What are your predictions for private M&A deal volume in your jurisdiction during 2024? | Private M&A deal volume in 2024 is predicted to be greater than 2023 deal activity. The national election was held in 2023 and local elections will be held in March 2024, the completion of the election period will stabilize the political environment. With the new economic team, Mehmet Şimşek Finance Minister and Gaye Erkan governor of the Central Bank, there has been a return to orthodox economic policies, and we expect an economic stabilization in the second quarter of 2024. |
| With respect to public M&A, what are three things on top of mind for M&A practitioners in your jurisdiction? | Three things top of mind for public M&A practitioners in Turkey are:
Certain projects require a good relationship with governmental authorities. Infrastructure and Energy are examples. Due to high inflation in recent years, companies announced very high profits. The effect of inflation on the target's profit shall be considered in the determination of the purchase price. The legal document and contract management system in certain sectors may not be very well. Licenses required for business shall be closely reviewed and depending on the location of the targets and their branch, trial licenses might have been provided. Such situations shall be subject to Legal Due Diligence. |
| With respect to public M&A, where does your jurisdiction see most deal activity? | Most public M&A deal activity is categorized as mid-market. |
| With respect to public M&A, what sector sees the most deal activity in your jurisdiction? | Most public M&A deal activity is seen in the Technology, Media and Telecommunications sector. |
| What are your predictions for public M&A deal volume in your jurisdiction during 2024? | Public M&A deal volume in 2024 is predicted to be greater than 2023 deal activity due to expected economic and political stabilization. |
| Please share any other insights with respect to M&A in your jurisdiction: | Nothing additional to add. |
Global M&A Trends Report
Three things top of mind for private M&A practitioners in Turkey are:
- General: political environment
- Commercial: valuation expectation gaps
- Legal/general: transaction structuring
Certain projects require a good relationship with governmental authorities, particularly Infrastructure and Energy projects.
Companies have announced very high profits due to the high inflation in recent years and the effect of inflation on the target's profit shall be considered in determining the purchase price.
In certain sectors, the legal document and contract management system may not be very good. Licenses required for business shall be closely reviewed and depending on the location of the targets and their branch, trial licenses might be provided. Such situations shall be subject to Legal Due Diligence.
Most private M&A deal activity is categorized as mid-market.
Most private M&A deal activity is seen in the Technology, Media and Telecommunications sector.
Private M&A deal volume in 2024 is predicted to be greater than 2023 deal activity. The national election was held in 2023 and local elections will be held in March 2024, the completion of the election period will stabilize the political environment.
With the new economic team, Mehmet Şimşek Finance Minister and Gaye Erkan governor of the Central Bank, there has been a return to orthodox economic policies, and we expect an economic stabilization in the second quarter of 2024.
Three things top of mind for public M&A practitioners in Turkey are:
- General: political environment
- Commercial: valuation expectation gaps
- Legal/general: transaction structuring
Certain projects require a good relationship with governmental authorities. Infrastructure and Energy are examples.
Due to high inflation in recent years, companies announced very high profits. The effect of inflation on the target's profit shall be considered in the determination of the purchase price.
The legal document and contract management system in certain sectors may not be very well. Licenses required for business shall be closely reviewed and depending on the location of the targets and their branch, trial licenses might have been provided. Such situations shall be subject to Legal Due Diligence.
Most public M&A deal activity is categorized as mid-market.
Most public M&A deal activity is seen in the Technology, Media and Telecommunications sector.
Public M&A deal volume in 2024 is predicted to be greater than 2023 deal activity due to expected economic and political stabilization.
Nothing additional to add.