Merger and acquisition deals in Turkey hit $10.1 billion in 2024, says KPMG
024 was the acquisition of a majority stake in the e-commerce platform Hepsiburada by Kazakhstani financial institution Kaspi.kz for $1.1 billion. Another significant transaction was a $500 million investment in tech firm Insider by U.S.-based private equity firm General Atlantic. Investor interest in Türkiye remains high, particularly in sectors such as telecommunications, industrial production, and automotive industries. This trend is expected to continue in 2025, according to KPMG Türkiye’s M&A advisory partner, Ãzge Ilhan Acar, who leads the consumer goods and retail division.
The uptick in M&A activity in Türkiye can be attributed to various factors, including the political stability following recent elections, Türkiye’s removal from the Financial Action Task Forceâs “grey list,” and a decrease in inflation rates. Acar highlighted a specific case where a private equity firm, previously uninterested in Türkiye, signed a confidentiality agreement to invest in an industrial manufacturing company. Additionally, a German company is exploring opportunities in the Turkish insurance sector, signaling potential movement in Türkiyeâs banking industry in the coming year.
Foreign investors are showing keen interest in sectors such as insurance and complementary healthcare services in Türkiye. This interest is driven by Türkiye’s improved economic conditions and favorable investment climate. The surge in M&A transaction values in 2024, despite a slight decline in deal volume, reflects the confidence that investors have in the market. KPMG Türkiye’s annual report predicts that the positive momentum in M&A activities will persist in 2025, indicating ongoing growth and opportunities in Türkiye’s business landscape.
The evolving landscape of Türkiye’s economy presents promising prospects for foreign investors looking to capitalize on various sectors. The insurance industry, in particular, holds immense potential for growth and development, attracting substantial attention from international players. Companies operating in complementary health services are also attracting interest from foreign investors, underscoring the diverse investment opportunities available in Türkiye.
In conclusion, Türkiye’s thriving M&A market reflects the resilience and attractiveness of its economy to foreign investors. The strategic acquisitions and investments made in 2024 signal a positive trajectory for the country’s business environment. With a favorable economic outlook, political stability, and an improving regulatory framework, Türkiye is poised to sustain its growth momentum in the M&A sector in the coming years. The continued interest from foreign investors in key sectors further solidifies Türkiye’s position as a lucrative destination for business and investment opportunities.
