The Turkish economy is currently amongst the most dynamic in Europe. In terms of private sector M&A (excluding privatisations), total deal volume reached around $15 billion in 2011, with foreign investors accounting for almost three-quarters of investments, and is expected to top $20 billion in 2012. Local Turkish banks provide a strong and liquid source of debt financing for acquisitions. A recent survey predicted that around half of the financing sources for M&A deals in Turkey for 2012 would be bank finance.
In Turkey, it has been said that everybody wants a grocery shop and
not a supermarket. "It's a market full of egos and that's not just
limited to lawyers....
CONTEXT AND TRENDS
While Turkey's European neighbours plan to introduce austerity measures in the face of the prevailing debt crisis, another story is brewing where east meets west and it is one marked with continuing success. In late 2011, Turkish parliamentarians approved a budget that would expand public spending as it believes that this would dampen the expected economic slowdown as the country vigorously pursues its goal of becoming one of the top 10 economies in the world....