The combined merger and acquisition (M&A) volume in Turkey, including disclosed figures as well as estimates of undisclosed transactions, rose by 35% y/y to $10.1bn in 2024, according to the annual report of KPMG Turkey.

In 2023, the total rose to $7.5bn from $6.5bn in 2022.

The number of transactions, which stood at 219 in 2022, meanwhile, in 2024 declined to 475 from 547 in 2023.

Telecommunications, industrial production and automotive companies in Turkey are popular and interest in these sectors will continue in 2025, Ozge Ilhan Acar of KPMG Turkey on January 17 told reporters during a press meeting to promote the report.

A German company is interested in several Turkish insurance companies and Kazakh investors are interested in Turkey's banking sector, according to Acar.

On January 14, Ozlem Ulas of Deloitte Turkey said that the number of M&A transactions in Turkey rose by 5% y/y to 422 in 2024 after falling to 413 in 2023 from 415 in 2022.

The combined volume was also up 6% y/y to $8.5bn last year after declining to $8bn in 2023 from $12bn in 2022, Ulas added.

On January 7, the Turkish competition board’s annual M&A report showed that the regulator in 2024 approved 137 M&A transactions in which Turkey-based companies were the subject of acquisition.

When the management of a company changes hands, the transaction requires a competition clearance.

On January 6, the annual “M&A activity in Turkey’s Energy Market” report by PricewaterhouseCoopers International Limited (PwC) showed that the number of transactions in Turkey’s energy industry edged up to 30 in 2024 from 29 in 2023.

Table: Top 10 M&As in Turkey in 2024.