Disclosed volume hit $5.5B in 11 months despite falling number of transactions, as larger-scale investments come to fore
The transaction volume of mergers and acquisitions in Türkiye rose to $5.5 billion from January-November, doubling from last year, according to a recent report by the KPMG Türkiye services firm.
The estimated transaction volume, including undisclosed transactions, totaled $9.4 billion in the first 11 months of 2024, up from $7.3 billion in the same period of last year.
As of the end of November, the number of transactions hit 424, slightly down from 486 last year.
KPMG Türkiye said the country is expected to see further increases in its transaction volume with rising interest in the technology, media and telecommunications, energy, industrial production and automotive sectors.
Technology, media, and telecommunications led other sectors in transaction volume and numbers in 2024, according to the report.
The volume of merger and acquisition transactions reached $2.7 trillion worldwide, up 13%, while transactions were at 44,000, down from 51,000 over the same period of last year.
Despite the declining number, larger-scale investments came to the fore in Türkiye and worldwide.
Turkish e-commerce giant, Hepsiburada, was acquired by Kazakhstan's Kaspi.kz for $1.1 billion for a 65% stake -- the only mega transaction worth more than $1 billion in 2024.
Türkiye's energy sector also saw important acquisitions, the biggest of which being mining firm Polimetal Madencilik by UK-based ACG Metals for $225.5 million.
Foreign investors targeted transportation, pharmaceutical, health care, industrial production and automotive sectors in 2024.
