M&A transactions volume declines to $8 billion last year

ISTANBUL

The volume of mergers and acquisitions (M&A) transactions in Türkiye amounted to $8 billion last year, declining from $11.5 billion in 2022, a report by Deloitte has shown.

The number of transactions fell by 3 percent to 403.

The total deal volume of foreign investors stood at $5.2 billion in 2023. Foreign investors sealed 96 M&A deals last year, according to the report.

Investors from Europe were the most active foreign investors with transactions worth $2.5 billion. The share of investors from Europe in total foreign transactions rose from 41 percent in 2022 to 48 percent last year. Investors from Europe made a total of 53 transactions.

Investors from North America ranked second with 15 deals, followed by the Gulf investors at 14 deals worth $1.5 billion.

Turkish investors’ deal volume declined by 52 percent last year compared with 2022 to $2.8 billion.

The average deal size including all transactions was $20 million last year, below the average deal size recorded in 2022.

There were 306 transactions with a deal value less than $10 million, corresponding to 76 percent of the total deal number, according to the report.

The largest 10 deals, including estimates for undisclosed values, accounted for around 30 percent of total deal volume. That was 48 percent in 2022.

The 30 transactions related to the gaming industry amounted to $133 million last year, down from $643 million a year ago.

Venture capital and angel investors made 222 deals worth $844 million, which translated into a 3 percent decline in the number of deals and a 47 percent decline in transaction volume.