Report: Turkish firms buying up foreign corporations
For a few years, Godiva Chocolates in the United States were under Kosher supervision, and I would occasionally bring some back to Israel with me for Mrs. Carl. Lately, they are not under Kosher supervision, as far as I can tell, and perhaps this has something to do with it: Godiva is now owned by a Turkish company. Turkish firms in the past five years have made 68 foreign acquisitions totaling $7.5 billion in revenues, according to a report released yesterday by Deloitte Turkey. In 2011 alone, Turkish companies made 26 overseas acquisitions worth $2.9 billion.The Turks even own a petrochemical company in Iran.
While the report highlights Yıldız Holdings’ purchase of Godiva Chocolates as Turkey’s most noteworthy overseas purchase, Turkish firms have shown interest in the food and beverage, service, telecommunication, logistics, production and financial services sectors.
Other noteworthy Turkish acquisitions, according to the report, are Hürriyet’s purchase of Trader Media East, Anadolu Efes’ purchase of SABMiller in Russia and Ukraine and Eczacıbaşı’s acquisition of Villeroy&Boch’s tiles.
The top five Turkish purchases from 2007 to 2011 were Anadolu Efes’ purchase of SAM Miller in Russia and Ukraine, Yıldız Holding’s acquisition of Belgian Godiva, Gübre Fabrikaları, Tabosan, Asya Gaz Enerji consortium’s purchase of Iran’s Razi Petrochemicals, Turkcell’s purchase of Belarus Telecom, and Yıldırım Holding’s purchase of CMA CGM, a French logistics firm.I guess all that cheap money that the Turkish government has been giving out is being put to good use. I wonder what happens when it runs out. Heh.
Labels: Turkey
posted by Carl in Jerusalem @ 8:32 PM
2 Comments:
Hi Carl.
Better to buy Leonidas Belgium Chocolates they're the best anyways and kosher.
Why would Turkey stop Kosher supervision? Kosher is permissable in lieu of Halal, so it would be a silly decision, not just for relgious reasons but economically it would benefit the company to have Jewish and Muslim consumers. Muslims are the worlds biggest consumers of Kosher. In the US 70% of the kosher market is Muslim.
But anything to smear Turkey right?
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