Deloitte Türkiye recently released its 2023 M&A report, which shows a decline in both the volume and number of M&A deals globally. According to the report, both the volume and number of M&A deals declined, due to a range of challenges such as rising borrowing costs, high inflation and geopolitical tensions.
However, despite the challenges, the total amount of M&A activity in Turkey in 2023 remained noteworthy, with international investor interest in Turkey remaining at a consistent level compared to previous years. Participated in 96 transactions with a total value of US$5.2 billion.
The energy sector topped the list by trading volume, with 31 transactions disclosed for a transaction value of 5US$700 million, accounting for 18% of the total annual deals. Notably, a renewables-focused ecosystem is emerging in the energy sector, which includes deals related to topics such as micromobility, storage, and the energy transition.
The industrial sector remains the cornerstone of Turkey's M&A landscape, offering convincing advantages to strategic investors, including strategic location, qualified and competitive workforce, cost-effective production, and a strong industrial base.
The most significant deal of the year involved venture capital investors injecting $500 million into GETIR, representing 6% of the total deal for the year.