Total Value of Mergers, Acquisitions, and Privatizations Reviewed by the Competition Authority in 2024 Reaches $6.81 Billion
In 2024, the Competition Authority examined merger, acquisition, and privatization transactions with a total value of $6.81 billion. The Competition Authority published its Merger and Acquisition Outlook Report for 2024. The report includes findings prepared based on data related to mergers, acquisitions, and privatization transactions concluded by the Competition Board in 2024. Accordingly, a total of 311 merger, acquisition, and privatization transactions were reviewed by the Competition Authority in 2024. Excluding privatizations, 131 of these transactions involved target companies of Turkish origin. The reported total value of these transactions was approximately 191 billion 917 million TL ($5.86 billion). During the same period, the total value of the six privatization transactions examined was approximately 31 billion 363 million TL ($957 million). Thus, in 2024, the total anticipated transaction value for Turkish-origin companies across 137 transactions reached approximately 223 billion TL ($6.81 billion).
The report provided the following information: “In 2024, among mergers and acquisitions where the target company was of Turkish origin, the most transactions occurred in the 'computer programming, consulting, and related activities' sector, with 23 transactions; while the highest transaction value was achieved in the 'retail trade outside of stores, stalls, and markets' sector. During the same period, the six privatization transactions were related to various sub-sectors of 'production and distribution of electricity, gas, steam, and air conditioning', 'culture, arts, entertainment, recreation, and sports', as well as 'manufacturing'; the highest value privatization transaction was in the area of 'culture, arts, entertainment, recreation, and sports' at approximately 16 billion 522 million TL.
Additionally, in 2024, foreign investors are expected to invest in Turkish-origin companies in 47 separate merger and acquisition transactions. According to the ranking of foreign investors based on the number of transactions, the Netherlands ranks first with seven transactions, followed by France with six transactions. The reported investment amount by foreign investors in these transactions, where the target company was of Turkish origin, is approximately 99 billion 252 TL ($3.03 billion).
In 2024, 164 merger and acquisition transactions conducted by foreigners abroad were also examined. The reported total value of these transactions was 17 trillion 186 billion TL ($524.34 billion). When the total of 211 transactions conducted by foreigners both in Turkey and abroad is sorted based on the transaction value according to economic activity areas, the prominent sectors for global investments in 2024 are as follows:
- Computer programming, consulting, and related activities
- Manufacturing of other food products
- Activities of monetary intermediary institutions
- Wholesale trade of agricultural raw materials and live animals
- Supporting activities for transportation
In 2024, the Competition Board concluded merger and acquisition transactions on average 12 days after the final notification date. Throughout 2024, two transactions were subjected to final investigation.”