Grandstanding TractionGrandstanding TractionA Turkish Private Equity Weekly - In an effort to cover the Turkish Private Equity Industry - for the promotion of Entrepreneurship, the private equity asset-investment model, and the communication therof. Articles
Blue Voyage Partners Exit AFM Cinemas
2007-11-04 19:33:00 As posted in the TDN (Velios buys AFM’s 51.9 percent shares), it appears AIG Blue Voyage achieves an exit from one of their longtime investments after just re-entering Turkey. I'm a bit short of time as of late, so here are the main points from the article: Turkish cinema company AFM sold more than 50 percent of its shares to the Velios Ltd., a subsidiary of Russian Alfa Group Consortium Tuesday evening. The estimated price of the shares is to be around $28.5 million, however, the final price will be set after closing. This led the previous owners of the company, Akdemir family and AIG Blue Voyage Fund L.P., to sell all their shares except for the 10 percent belonging to Ahmet Adnan Akdemir, AFM founder. A statement made to the Istanbul Stock Exchange (IMKB) said that 51.9 percent of AFM shares (owned by AIG Blue Voyage Fund L.P., Yalçın Selgur, Mehmet Berent Akdemir, M. Sedat Akdemir, Fatma Füsun Akdemir, Ahmet Adnan Akdemir and Yusuf Agah Tansev) were sold to Velios Ltd... More About: Partners , Cinemas
AIG Rehires and Re-Enters Turkish Buyout Market with Blue Voyage Advisors
2007-10-21 20:06:00 According to the Wall Street Journal, AIG is again making a push to enter the Turk ish buyout/venture space. Setup in 2000, the AIG Blue Voyage Fund was a $100m (€72m) fund dedicated to private equity investing in Turkey. Of course you may remember that those were tough times to put together a fund {with the country nearing elections, the 2001 crisis, and the devaluation of the lira}. Nonetheless, the spirit of putting together a private equity fund in Turkey was commendable and they were able to make three acquisitions of companies in the consumer and entertainment sectors which included AFM Theaters and Galatasary Sportif by 2004. Perhaps it was the trouble with board member shifts at Galatasaray that made them lose heart? Even so, the fund deliberately slowed its investment pace from 2002 to 2004 and by 2005, the fund closed with only 30% of its capital committed. Aside from Blue Voyage, however, last year AIG Capital was able to regain some ground in Turkey, taking a st... More About: Market
KKR Makes First and Largest PE Investment in Turkey
2007-10-14 20:11:00 In September, some suprising news came out that KKR (Kohlberg Kravis Roberts & Co) was attempting a takeover bid for the Turk ish UN Ro-Ro shipping firm. Well, news has just been released coutesy of Reuters (KKR buys 98 pct of Turk shipper in $1.28 bln deal) and Forbes (KKR Ro-Ros To Turkey ) that the deal has gone through. KKR will purchase a 97.6% stake worth 882.2 million euros ($1.2 billion) from the consortium of international shippers. While this may pose as a landmark deal for private equity enthusiasts such as myself, not to mention the largest private equity deal ever to be done in Turkey, KKR first appeared to have bitten off more than they could chew. In September, there was negative speculation both from Chairman Saffet Ulusoy (who said that he would never sell) and the Turkish Armed forces as to the selling-off of national security interests. UN Ro-Ro, a roll-on/roll-off shipping company, owns 9 ships and was founded in 1993 during the Yugoslav-Balkans War - a war th... More About: Investment , Largest
Malcolm Gladwell: The Tipping Point, Blink and the TED Conference
2007-09-27 20:28:00 I first got turned on to Malcolm Gladwell by hearing his name among other VC Blogs. My first encounter was when I picked up his latest book: Blink : The Power of Thinking Without Thinking. Having read Blink first, I may have spoiled the effect of reading that book that he his most famous for: The Tipp ing Point : How Little Things Can Make a Big Difference. Luckily, I was able to find a copy sitting next to Blink on the best seller rack. I may be behind the times only finishing it now - it being first published in 2004. However, fret not, for it is still a prudent and powerful explanation of successful businesses, products and social networks in the world of Web 2.0 - beautiful in its simplicity. For those who haven't read The Tipping Point, the idea is a comparison of the successes in business to the spread of a disease epidemic. Think of a common flu virus that hangs around going from person to person, remaining in equilibrium in its contagiousness. But then something happen... More About: Conference
ODTÜ-Teknokent and KOSGEB Hold "Entrepreneur-Investor Meeting": Training f
2007-09-23 20:03:00 Middle East Technical University Metutech (ODTÜ-Teknokent) and KOSGEB (Small/Medium-size Industry Development Organization - see left sidebar) have teamed up and are holding an "Entrepreneur -Investor Meeting " in Istanbul. The Entrepreneur-Investor Meeting {Site Link} will take place at the Ritz-Carlton Hotel on Oct. 31 and Nov. 1st. A Forum will convene on Nov. 2nd to discuss, "Early-Stage Funding in Technology Start-Ups / Benchmarkings for Turkey". For entrepreneurs of Turkey, this is exciting news, but you must hurry to register. The program includes an "Online Business Plan Preparation Training " between September 15, 2007 and October 15, 2007 where entrepreneurs are trained in the necessities of arranging their own business plan. Registration for this training will cost 450 YTL. Then according to the website: Technology entrepreneurs that successfully complete the training will present the business plans to be prepared by them to a team of experts in venture capital and b... More About: Hold
EVCA Releases Quarterly Report: Median Venture Investment Surpasses €3 mi
2007-09-17 08:27:00 At the end of August, the European Venture Capital Association produced its quarterly report with the help of Dow Jones, VentureOne, and Ernst & Young. The highlight of the report, published here by AltAssets, is that European venture capital investment reached €1.14bn in Q2 2007 despite a drop in deal flow to 213 in Q2 2007 from 223 in Q1 and 265 in the same period last year. While great news for investors and entrepreneurs in Europe with a venture model coming of age, the real story should be next quarters results to understand if the markets and appetite for investments remained confident after the credit fluctuations in the US and abroad. Surely the investing of private equity funds in this stage of the cycle does not stop investors from investing funds in smart companies. As of yet, we still have not seen any stagnation in fundraising either. As well, what IRRs these funds will be gaining is another area of interest in the years to come. But I think what is most str... More About: Investment , Report , Median , Quarter
Another Turkish Broker Gets Snapped Up: Citigroup Acquires Opus Securities!
2007-09-13 09:46:00 Reuters reported that Citigroup has now bought Opus Menkul Degerler, a brokerage house in Turk ey, to grow its equities business. Citi plans to change Opus Menkul Degerler (Securities )'s name to Citi Menkul Degerler A.S. According to Opus Securities' website, "Opus Securities is regulated by Capital Markets Board of Turkey and holds equity brokerage, t-bill and repo trading, derivates brokerage, leverage equity transactions, investment consultacy and short selling licenses." As quoted in the Reuters article, "Turkey's equity market capitalisation has grown sevenfold in the last five years, and the depth of the market has increased commensurately. This acquisition provides a fast and efficient route to position ourselves in the market," said Steve Bideshi, Chairman of Citibank A.S. Just another example of how Turkey as an emerging market and the Istanbul Stock Exchange (IMKB) has come of age. As posted here, this year alone, other broker acquisitions have occured such as Cred... More About: Broker , Turkish
Market Share of Television Advertising in Turkey: An Update on the sale of
2007-09-11 19:43:00 UPDATE: A fellow reader sent me an email and asked for a little more information concerning my last post on the seizure and public auction of Merkez Yayin Holding and its media assets: hello there i'm iann and i keep in romania a blog about media issues in south eastern europe what is the real sotry about Medya Yayın Holding? because i dont understand what is State Deposits and Insurance Fund and hi s implication in this transaction and also the trails about the property so if you have time to explain me a little bit the situation it would be breat best regards iann http://aluiann.wordpress.com [romanian] Well Iann, first of all Wordpress is still blocked in Turkey (another story), and secondly, the TMSF is a government organization that repossesses the assets of companies and individuals and are either unable to pay their bills, have defaulted on loans and declared bankruptcy or have been prosecuted for illegal practices. The case with Merkez Yayin Media is that secret contrac... More About: Television , Advertising , Market , Sale
Turkey to auction off media assets of Medya Yayın Holding, Sabah Newspaper
2007-09-06 10:31:00 UPDATE: As of the 25th of September, the TMSF announced that so far there are 5 prospective bidders for the assets of Turkish media firm ATV-Sabah at auction in November. The RTL Group, Rupert Murdoch's News Corp., Germany's ProSiebenSat.1, Czech CME and unlisted Greek broadcaster Antenna TV have all bought the $50,000 documents necessary to take part in the tender. The TMSF contacted Reuters with this information. Relevant and Recent News Links: Date & nbsp; Title-Link & nbsp; Source ; 11-9-07 Market Share of Television Advertising in Turkey : An Update on the sale of Merkez Yayin Holding Grandstanding Traction (Recent Post) 29-9-07 Greek media group eyes Sabah/ATV TDN Original Post:Turkey's State Deposits and Insurance Fund announced that it will auction off repossessed media assets of Medya Yayın Holding, Sabah Newspaper and ATV on ... More About: Media , Auction
ENTREPRENEUR FEATURE: Trink Looking for Seed/Venture Funding
2007-08-22 10:04:00 In building this site, it was always my intention to feature Turkey's entrepreneurs. So when Serkan of Trink (http://www.trink.com.tr) and 4Yaprak Bilgi Teknolojileri emailed me his business plan with his elevator pitch in an email, I was more than happy to publish his inquiry. Here is some of what he wrote: Dear Sir, I produce a prototype and apply to TTGV (TECHNOLOGY DEVELOPMENT FOUNDATION OF TURKEY) for the fund that I need to create my product (TRINK). They gave me an incubation fund to create my first pre_production prototype. But now, I need the real fund for startup and mass production for TRINK. The problem is starting from here: TTGV is one of the biggest foundations in Turkey, but they can not invest any enterpreneur or a company directly -except the incubation fund that we get- because of our laws in Turkey (because TTGV is a FOUNDATION ). So, they(TTGV) set up another company called Teknoloji Yatirim A.S. (Technology Investment Corp.) to support new ideas/... More About: Venture , Entrepreneurship , Entrepreneur , Venture Capital , Feature
ENTREPRENEUR FEATURE: Trink Looking for Seed/Venture Funding
2007-08-22 10:04:00 In building this site, it was always my intention to feature Turkey's entrepreneurs. So when Serkan of Trink (http://www.trink.com.tr) and 4Yaprak Bilgi Teknolojileri emailed me his business plan with his elevator pitch in an email, I was more than happy to publish his inquiry. Here is some of what he wrote: Dear Sir, I produce a prototype and apply to TTGV (TECHNOLOGY DEVELOPMENT FOUNDATION OF TURKEY) for the fund that I need to create my product (TRINK). They gave me an incubation fund to create my first pre_production prototype. But now, I need the real fund for startup and mass production for TRINK. The problem is starting from here: TTGV is one of the biggest foundations in Turkey, but they can not invest any enterpreneur or a company directly -except the incubation fund that we get- because of our laws in Turkey (because TTGV is a FOUNDATION ). So, they(TTGV) set up another company called Teknoloji Yatirim A.S. (Technology Investment Corp.) to support new ideas/... More About: Venture , Entrepreneur , Feature , Funding , Feat
The Home Run Mentality in Venture Capital: the 80/5 Principle
2007-08-10 08:50:00 As an American that misses baseball, and in the spirit of the boys of summer, I can't help but mention that Barry Bonds hit his 756th All-time Home Run on August 7th, breaking Hank Aaron's long-standing record of 755 set in 1974. Despite the controversy over steroid use, we must remember that Babe Ruth did it on hot dogs and beer, and it is an incredible moment in baseball history and for its fans. Way to go, Barry! Within the reference of the home run, in my last post regarding Guy Fraser-Sampson's book, Private Equity as an Asset Class, I highlighted a very interesting statistic regarding the need for Venture Capitalists to "swing for the benches" and look for home runs when making investments. GFS had a very interesting chart in his book that observed this statistic from the famous data released from Horsley Bridge. Last week, a lot of traffic came from search criteria looking for this very data. Here are the basics that I have somewhat reproduced here: The idea is t... More About: Investment , Venture Capital
The Home Run Mentality in Venture Capital: the 80/5 Principle
2007-08-10 08:50:00 As an American that misses baseball, and in the spirit of the boys of summer, I can't help but mention that Barry Bonds hit his 756th All-time Home Run on August 7th, breaking Hank Aaron's long-standing record of 755 set in 1974. Despite the controversy over steroid use, we must remember that Babe Ruth did it on hot dogs and beer, and it is an incredible moment in baseball history and for its fans. Way to go, Barry! Within the reference of the home run, in my last post regarding Guy Fraser-Sampson's book, Private Equity as an Asset Class, I highlighted a very interesting statistic regarding the need for Venture Capital ists to "swing for the benches" and look for home runs when making investments. GFS had a very interesting chart in his book that observed this statistic from the famous data released from Horsley Bridge. Last week, a lot of traffic came from search criteria looking for this very data. Here are the basics that I have somewhat reproduced here: The idea is t... More About: Venture Capital , Home Run
REVIEW: Private Equity as an Asset Class by Guy Fraser-Sampson
2007-08-05 14:20:00 To the average man on the street, the world of private equity can take on a perception of big-men-banker types, cigar smoke-filled boardrooms and ivory towers. However, Guy Fraser-Sampson's new book, Private Equity as an Asset Class , puts a face of the common man to private equity that makes it an easy (and enjoyable) read for students of finance, PE/VC professionals, pensioners, gatekeepers and first-time investors. For the private equity industry, the writing of this book was sorely needed. Guy Fraser-Sampson is the right man for the job - a man with 20+ years of PE experience and previously a partner and managing director at Horsely Bridge. It has just gone on sale in the United States and sold over 1000 copies in the first 10 weeks in Europe. When first I was sent his book, I was delighted. It has been described as "the only definitive text book in the world on private equity." After reading it, I can honestly say it will provide a benchmark and turning point for the glo... More About: Review
REVIEW: Private Equity as an Asset Class by Guy Fraser-Sampson
2007-08-05 14:20:00 To the average man on the street, the world of private equity can take on a perception of big-men-banker types, cigar smoke-filled boardrooms and ivory towers. However, Guy Fraser-Sampson's new book, Private Equity as an Asset Class , puts a face of the common man to private equity that makes it an easy (and enjoyable) read for students of finance, PE/VC professionals, pensioners, gatekeepers and first-time investors. For the private equity industry, the writing of this book was sorely needed. Guy Fraser-Sampson is the right man for the job - a man with 20+ years of PE experience and previously a partner and managing director at Horsley Bridge. It has just gone on sale in the United States and sold over 1000 copies in the first 10 weeks in Europe. When first I was sent his book, I was delighted. It has been described as "the only definitive text book in the world on private equity." After reading it, I can honestly say it will provide a benchmark and turning point for the glo... More About: Review
Is Turkey's IPO Window Open on the Istanbul Stock Exchange (IMKB)? Here ar
2007-07-29 11:36:00 2007 has been a very busy year, indeed. In the first half of the year, there were 8 IPO's (including Albaraka Turk Bank) totaling $2.820 billion. This breaks a record set in 2000, when 36 companies went public for close to the same amount. Here is a breakdown of the last 8 years of IPOs on the Istanbul Stock Exchange (IMKB). Remember, there was a crisis at the beginning of 2001. IMKB IPOs (2000-2007) YEAR NUMBER OF IPOs AMOUNT RAISED (USD) 2000 36 $2,809 mln 2001 1 $200,000 2002 4 $56.5 mln 2003 2 $11.3 mln 2004 12 $600 mln 2005 9 $1,740 mln 2006 15 $930 mln 2007 (as of July) 8 2,820 mln To follow, here is a list of the 2007 IPOs that have occured on the IMKB. IMKB IPOs (As of July 2007) DATE COMPANY IPO AMOUNT RAISED (USD) Feb. 15-16 TAV Airports Holding $335 mln Feb. 22-23 Sa?lam REIT $5.59 mln April 25-26-27 Oyak Yat?r?m Ortakl??? A.?.(Oyak Investment Fund) $8.31 mln April 16-17-18 Merkez Securities INC. B Type Investment Trust $2.43 mln... More About: Open , Window
Is Turkey's IPO Window Open on the Istanbul Stock Exchange (IMKB)? Here ar
2007-07-29 11:36:00 2007 has been a very busy year, indeed. In the first half of the year, there were 8 IPO's (including Albaraka Turk Bank) totaling $2.820 billion. This breaks a record set in 2000, when 36 companies went public for close to the same amount. Here is a breakdown of the last 8 years of IPOs on the Istanbul Stock Exchange (IMKB). Remember, there was a crisis at the beginning of 2001. IMKB IPOs (2000-2007) YEAR NUMBER OF IPOs AMOUNT RAISED (USD) 2000 36 $2,809 mln 2001 1 $200,000 2002 4 $56.5 mln 2003 2 $11.3 mln 2004 12 $600 mln 2005 9 $1,740 mln 2006 15 $930 mln 2007 (as of July) 8 2,820 mln To follow, here is a list of the 2007 IPOs that have occured on the IMKB. IMKB IPOs (As of July 2007) DATE COMPANY IPO AMOUNT RAISED (USD) Feb. 15-16 TAV Airports Holding $335 mln Feb. 22-23 Sağlam REIT $5.59 mln April 25-26-27 Oyak Yatırım Ortaklığı A.Ş.(Oyak Investment Fund) $8.31 mln April 16-17-18 Merkez Securities INC. B Type Investment Trust $2... More About: Open , Window
A New Entry in the Turkish Venture Capital Space: Delta Capital Interested
2007-07-20 09:13:00 In March 2007, Delta Capital , a Private Equity firm focused in the telecom industry in the Middle East and Africa, closed its MENA Telecom Fund, raising over 75 million USD. Conceived and headquartered in Dubai UAE, Delta Capital is part of Delta Partners - a company with strong expertise in the telecom industry. According to the Delta Partners website, the fund will have a life of 7 years with an investment period of 3 years. In addition, unlike most VC funds that are constrained to a certain region, Delta has chosen a wide path - the MENA region. What is exciting about this is that it includes Turkey! Over a conference call, I spoke with Delta Capital. I asked them to send me a few comments and answer a few questions about their fund. The following is a representation of that conversation according to Delta Capital's Head of Private Equity, Morten Kvammen: "Why do you wish to invest in Turkey? Why now?" Turkey, having a liberalised telecom industry and a continuously gro... More About: Venture , Space , Venture Capital
A New Entry in the Turkish Venture Capital Space: Delta Capital Interested
2007-07-20 09:13:00 In March 2007, Delta Capital, a Private Equity firm focused in the telecom industry in the Middle East and Africa, closed its MENA Telecom Fund, raising over 75 million USD. Conceived and headquartered in Dubai UAE, Delta Capital is part of Delta Partners - a company with strong expertise in the telecom industry. According to the Delta Partners website, the fund will have a life of 7 years with an investment period of 3 years. In addition, unlike most VC funds that are constrained to a certain region, Delta has chosen a wide path - the MENA region. What is exciting about this is that it includes Turkey! Over a conference call, I spoke with Delta Capital. I asked them to send me a few comments and answer a few questions about their fund. The following is a representation of that conversation according to Delta Capital's Head of Private Equity, Morten Kvammen: "Why do you wish to invest in Turkey? Why now?" Turkey, having a liberalised telecom industry and a continuously gro... More About: Venture , Entrepreneurship , Space , Venture Capital
Islamic Bank Turkiye Finans To Merge With Commercial Bank of Kuwait and the
2007-07-10 11:14:00 Paul Wouters, a guest contributor on Dinarstandard.com, wrote a very nice piece on the Turkish Islamic Bank ing Sector (or Participation Banks as they call it). It comes on the heals of my last post about the IPO of Albaraka Turk Bank. It details nicely the success and potential success of the players in that space. Indeed, the Islamic Banking sector (wiki), which does not charge interest under Sharia Law, has been a small but active sector. According to local newspapers, and as printed in I? Banks Daily Market Review (July 3rd, 2007(pdf)), Turkiye Finans is to sell a 50% stake to the Commercial Bank of Kuwait (CBK) and Noor Group. The deal is said to be around $1.8 billion for Turkey's 2nd largest Islamic bank (based on assets), and should be completed by the end of the month. This has come just a year and a half after the Ülker Group sold 50% of Family Finans to the Boydak Holding and Anadolu Finans, thus creating Turkiye Finans. Once the merger has been completed, I will u...
UPDATED: Islamic Bank Turkiye Finans Bought Out by Saudi National Commercia
2007-07-10 11:14:00 UPDATED: 19-7-2007 Saudi National Commercial Bank agrees to purchase 60% of Turkiye Finans for $1.08 billion, valuing the company at $1.8 billion. Boydak Holding and the Ãœlker Group will retain 20% each from the deal. The deal will be completed by the end of the year and could be revised up $120-130 million depending on profits. This post was originally written on the premise that CBK and the Noor Group were going to be purchasing 50% of Turkiye Finans, but it looks as though that deal was passed up for Saudi NCB. Paul Wouters, a guest contributor on Dinarstandard.com, wrote a very nice piece on the Turkish Islamic Banking Sector (or Participation Banks as they call it). It comes on the heals of my last post about the IPO of Albaraka Turk Bank. It details nicely the success and potential success of the players in that space. Indeed, the Islamic Banking sector (wiki), which does not charge interest under Sharia Law, has been a small but active sector. Orgininally, accordin...
Islamic Bank Turkiye Finans To Merge With Commercial Bank of Kuwait and the
2007-07-09 13:55:00 Paul Wouters, a guest contributor on Dinarstandard.com, wrote a very nice piece on the Turkish Islamic Bank ing Sector (or Participation Banks as they call it). It comes on the heals of my last post about the IPO of Albaraka Turk Bank. It details nicely the success and potential success of the players in that space. Indeed, the Islamic Banking sector (wiki), which does not charge interest under Sharia Law, has been a small but active sector. According to local newspapers, and as printed in I? Banks Daily Market Review (July 3rd, 2007(pdf)), Turkiye Finans is to sell a 50% stake to the Commercial Bank of Kuwait (CBK) and Noor Group. The deal is said to be around $1.8 billion for Turkey's 2nd largest Islamic bank (based on assets), and should be completed by the end of the month. This has come just a year and a half after the Ülker Group sold 50% of Family Finans to the Boydak Holding and Anadolu Finans, thus creating Turkiye Finans. Once the merger has been completed, I will u...
IMKB's Latest IPO's: SinpaÅŸ REIT and Albaraka Turk Bank
2007-07-02 15:04:00 The summer has really been heating up concerning IPO's and the IMKB. For both international and domestic investors, the IPO window seems to be fairly open in Turk ey. Despite the usual theorizing over accurate values of the offerings, the success of the flotations and the mechanisms behind it may very well prove that Turkey and its ready investment climate is ripe for the taking. Although there is some cause for concern about what this may mean for Turkey's SME's. But first, here's how the two broke down: SINPAÅž REAL ESTATE INVESTMENT TRUST Probably one of the most active and exciting sectors in Turkey right now, the Turkish REIT s deserve mention all to themselves. SinpaÅŸ REIT, as of its IPO will be the largest REIT, and certainly not the last. Here's how it fell out: 49% of stock was on offer representing 67.12 million shares. The bookbuilding was completed on June 15th. Foreign Investors will take the lion's share 66% of these shares, leaving domestic investors the... More About: Bank
IMKB's Latest IPO's: Sinpa? REIT and Albaraka Turk Bank
2007-07-02 15:04:00 The summer has really been heating up concerning IPO's and the IMKB. For both international and domestic investors, the IPO window seems to be fairly open in Turkey. Despite the usual theorizing over accurate values of the offerings, the success of the flotations and the mechanisms behind it may very well prove that Turkey and its ready investment climate is ripe for the taking. Although there is some cause for concern about what this may mean for Turkey's SME's. But first, here's how the two broke down: SINPA? REAL ESTATE INVESTMENT TRUST Probably one of the most active and exciting sectors in Turkey right now, the Turkish REIT s deserve mention all to themselves. Sinpa? REIT, as of its IPO will be the largest REIT, and certainly not the last. Here's how it fell out: 49% of stock was on offer representing 67.12 million shares. The bookbuilding was completed on June 15th. Foreign Investors will take the lion's share 66% of these shares, leaving domestic investors the r... More About: Banking , Bank , Late , Barak
Banking Sector Acquisitions in Turkey
2007-06-25 15:05:00 The purhase of Oyak Bank by the Dutch ING Group has again brought to the fore the palpability of Turk ey 's banking sector and opportunity that exists. The total value of the sale will be $2.67 billion for 100% of Oyak Bank, which was previously owned by the Turkish Armed Forces Pension Fund. Although, these are not private equity deals per se, I would just like to highlight that the potential still exists for equity investors from abroad proven by the extent of the current acquisition dealflow in the banking sector. Thankfully, TDN published a nice chart of these acquistions that I will reproduce here and keep updated. Since 2001, there have been 17 deals done involving 15 banks selling equity partitions totaling $16.98 billion. Here are the deals: Latest Banking Acquisition s in Turkey (Originally Sourced from TDN) Bank Date Acquirer Acquired % Amount Paid (USD) Demirbank Sept. 2001 HSBC 100% $350 mln Koç Fin. Serv. Oct. 2002 Unicredito 50% $240 mln TEB Fin. Serv. N...
Banking Sector Acquisitions in Turkey
2007-06-25 15:05:00 The purhase of Oyak Bank by the Dutch ING Group has again brought to the fore the palpability of Turk ey 's banking sector and opportunity that exists. The total value of the sale will be $2.67 billion for 100% of Oyak Bank, which was previously owned by the Turkish Armed Forces Pension Fund. Although, these are not private equity deals per se, I would just like to highlight that the potential still exists for equity investors from abroad proven by the extent of the current acquisition dealflow in the banking sector. Thankfully, TDN published a nice chart of these acquistions that I will reproduce here and keep updated. Since 2001, there have been 17 deals done involving 15 banks selling equity partitions totaling $16.98 billion. Here are the deals: Latest Banking Acquisition s in Turkey (Originally Sourced from TDN) Bank Date Acquirer Acquired % Amount Paid (USD) Demirbank Sept. 2001 HSBC 100% $350 mln Koç Fin. Serv. Oct. 2002 Unicredito 50% $240 mln TEB Fin. Serv. Nov...
NGO Endeavor Announces 2007 Turkish Entrepreneurs
2007-06-17 15:35:00 This last week, according to Referens Newspaper, "the Turkey office of Endeavor , a global non-profit organization that identifies and supports high-impact entrepreneurs in emerging markets to facilitate and encourage long-term sustainable growth, announced their 'Endeavor Entrepreneurs ' awards." Out of more than 300 candidates for the awards, here are the winners: Yemeksepeti.com allows customers to browse menus of registered restaurants with delivery services and order online. It provides an easy ordering service for even the smallest and obscure eatery. Although I'm at a loss as to what round of funding they have gone through or whether they are self-funded. Maybe my readers can help on the comments line. Dükkan is not your ordinary butchershop (nor venture investment), but has an infectious concept of quality that could only come from a true entrepreneur. Emre Mermer's Dükkan has an amazing and educational website and delivers to all Istanbul's top hotels and res... More About: Turkish , Rene , Anno
NGO Endeavor Announces 2007 Turkish Entrepreneurs
2007-06-17 15:35:00 This last week, according to Referens Newspaper, "the Turkey office of Endeavor , a global non-profit organization that identifies and supports high-impact entrepreneurs in emerging markets to facilitate and encourage long-term sustainable growth, announced their 'Endeavor Entrepreneurs ' awards." Out of more than 300 candidates for the awards, here are the winners: Yemeksepeti.com allows customers to browse menus of registered restaurants with delivery services and order online. It provides an easy ordering service for even the smallest and obscure eatery. Although I'm at a loss as to what round of funding they have gone through or whether they are self-funded. Maybe my readers can help on the comments line. Dükkan is not your ordinary butchershop (nor venture investment), but has an infectious concept of quality that could only come from a true entrepreneur. Emre Mermer's Dükkan has an amazing and educational website and delivers to all Istanbul's top hotels and resta... More About: Entrepreneurship , Awards , Turkish
Ho?geldiniz Kaan Joseph and Deniz Elizabeth!
2007-06-04 20:31:00 As publisher of Grandstanding Traction, I would like to apologize for a break in the action, but it seems that I have received a nice return on investment (so to speak) in the last few weeks. On the 25th of May at 10:10 and 10:11, Kaan Jose ph and Deniz Elizabeth were born to me and my loving wife at the American Hospital in Istanbul. All four of us are doing fine, despite the wakeful nights to come. I am very thankful for the perfect twins that were bestowed upon me, and look forward to the great times to come. More About: Beth , Geld
Turkey's New Light Bulb, and the OECD's Grim Innovation/Patent Report
More articles from this author:2007-05-21 23:29:00 THE GOOD NEWS It seems Professor Hilmi Volkan Demir of Bilkent University has something to be proud of. He and his research students were able to develop white light generated from using nanocrystal hybridization on a light emitting diode (LED), with tunable color properties. Apparently, this is the first time this has been done. An article highlighting this (no pun intended) was published in the Journal of Nanotechnology. According to an article in the TDN, international interest has started coming in. With Turkish universities and government funding being a guarded and bureaucratic source for innovation in Turkey, it is difficult to tell where this may be heading, but it does give hope that the steering of Turkey's young minds may be breaking free in the right direction. The acid test will be continued management and success of future proposals, and hopefully we will see further spinouts. Then maybe all the money being spent on Technoparks may start to payoff. Alternate ... More About: Report , Innovation , Light , Patent , The O 1, 2, 3, 4 |
 |
|
 |
