December 18, 2017 / 10:30 AM / a year ago

Turkey's Kibar Holding seeks to grow abroad - chief executive Saka

ISTANBUL, Dec 18 (Reuters) - Turkish conglomerate Kibar Holding hopes to make investments in the United States, Europe and Africa while it looks to exit or merge some parts of its business in Turkey, chief executive Tamer Saka told Reuters.

Saka also said in an interview that Kibar Holding was preparing for the initial public offering of some of the group’s companies, possibly at the beginning of 2019.

Kibar Holding, which is expected to achieve a combined annual revenue of 25 billion lira ($6.49 billion) in 2017 operates in seven sectors including automotive, food and metal. It has international business partners including South Korean Hyundai, Posco and Daewoo. ($1 = 3.8525 liras) (Reporting by Ceyda Caglayan; Writing by Ezgi Erkoyun; Editing by Dominic Evans)

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