The Competition Authority has published the Merger and Acquisition Outlook Report for the year 2023. In 2023, a total of 217 merger and acquisition transactions were reviewed by the Authority. It is stated that in 97 of these transactions, the target companies were established under the laws of the Republic of Turkey, with a total transaction value of 163 billion TL (excluding privatizations). 

Upon examining the report, it is noted that the total value of transactions among Turkish companies is approximately 81.9 billion TL. About 35 transactions were carried out by foreign investors, with an approximate transaction value of 68 billion TL. In terms of foreign investors, Germany (8 transactions), the Netherlands (5 transactions), and Luxembourg took the top three positions in transaction rankings. In 2022, the top 5 transactions by foreign investors were concluded by investors based in the Netherlands and the United Arab Emirates.

The report also provides information on the average number of transactions examined for the period 2013-2023. The number of transactions in 2023 is lower than the average number of transactions in the past 10 years, experiencing a 12% decrease compared to the previous periods’ data. However, in terms of transaction value, the transactions in 2023 exceeded the 10-year average, showing a 57.4% increase in US dollars.

In 2023, the majority of transactions were observed in the fields of electricity generation, transmission, and distribution (approximately 11 transactions) as well as computer programming, consultancy, and related activities (approximately 11 transactions).

The full report can be accessed here.