Hepsiburada's $1.1 Billion Stake Sold to Kaspi.kz Amidst Türkiye's M&A Surge

The mergers and acquisitions (M&A) volume in Türkiye has significantly increased in the first eleven months of 2024, rising to $5.5 billion, as highlighted by KPMG Türkiye. Including undisclosed transactions, the total transaction volume reached $9.4 billion, compared to $7.3 billion in the same timeframe in 2023. Although the number of transactions decreased slightly to 424 from 486 the previous year, the focus on larger-scale investments persists both in Türkiye and globally. Key sectors experiencing remarkable activity include technology, media, telecommunications, energy, industrial production, and automotive industries. Notably, the sector led in both transaction value and volume within Türkiye. A significant transaction involved Turkish e-commerce leader Hepsiburada, acquired by Kazakhstan's Kaspi.kz for $1.1 billion for a 65% stake. Another major deal was the acquisition of Polimetal Madencilik by the U.K.-based ACG Metals for $225.5 million. Foreign investors also showed interest in Türkiye's transportation, healthcare, industrial production, and automotive sectors, contributing to the country's booming M&A scene.