Koç eyes acquisitions, privatizations

ISTANBUL - Hürriyet Daily News

DHA photo

Koç Holding, one of the largest conglomerates in Turkey, is eyeing organic growth and new acquisitions, Chief Executive Turgay Durak said yesterday.

The company yesterday posted a 37 percent increase in net profits to 681 million Turkish Liras for the third quarter. Recalling that the company set a $4 billion investment target for 2013, Durak said in a note to the Istanbul Stock Exchange (İEMKB) that the new investments would focus on business in energy, automotives and household appliances.

“This figure does not include possible acquisitions,” Durak said. However, the company expects a fast year of acquisitions and privatization and will closely watch domestic and international merger and acquisition opportunities, as well as privatization processes.

The company has increased its total number of employees to 85,546 recruiting 4,500 more people, he added.