Mergers and acquisitions activity within the Turkish energy market
Already for the third year our Energy Deals report reviews the M&A activity in the Turkish energy sector occuring in the previous year, analyses the underlying drivers and examines the rationale behind the overall trends and the key individual deals.
Total deal number hit 53, amounting to US$17.2bn, mainly comprising the privatisations concluded in the electricity distribution and retail segment. This made a pleasant contrast to the entirety of 2009, when the transaction machine ground to a halt for the evident reasons. Not only that, it was also a better year than 2008, which we had termed at the time “a record year”.
The deal environment was distinctly busy for the second half of 2010, mainly on the back of the rush to wrap up the tenders for the long-awaited big tickets in the utilities sector.