Turkish companies buy foreign companies worth US$ 1 billion over the last ten months

Foreign acquisitions Turkish companies made over the last ten months amounted to some 1 billion USD, data showed.

Around 25 foreign companies were acquired mainly in European countries, Russia, and South Africa in sectors such as electronic goods, logistics, construction, ceramics and port management.

The acquisitions were partly due to rising labor and other production costs, said an analyst with UniCredit Turkey, adding that the trend was expected to continue in the years to come though with minimal decline.

2 December 2011
SOURCE: CUMHURIYET.COM.TR