Abraaj lauds Turkey as it eyes more buyouts
Dubai-based investment firm Abraaj Group will complete more buyouts in Turkey in the coming months because the country continues to offer "interesting opportunities."
“We will complete at least one acquisition in the first half of next year,” Selçuk Yorgancıoğlu, head of the company's Turkey office, told Reuters at an event in Istanbul.
Abraaj, present in Turkey since 2007, has $500 miilion remaining in its Turkey fund. It bought a minority stake in logistics company Netlog Lojistik for an undisclosed sum in July.
“We are operating in some 20 emerging countries," said Yorgancıoğlu. "Turkey is the fastest growing one of them, it has potential. It is important to us, we believe it will continue to offer interesting opportunities.”
Turkey has attracted tens of billions of dollars of foreign capital to its economy over the past decade, but political tensions, an attempted coup and erratic policy management have reduced its attractiveness in recent years.
Yorgancıoğlu declined to say how big or in which industry the investment would be, according to Reuters.