January 7, 2020 / 10:17 AM / 19 days ago

Turkish deal-making was lowest since at least 2011: Ernst & Young

ISTANBUL (Reuters) - Ernst & Young Turkey said on Tuesday that the disclosed amount of mergers and acquisitions in Turkey stood at $2.7 billion in 2019, the lowest since at least 2011, reflecting the effects of recession and the 2018 currency crisis.

The total amount of deals, which includes undisclosed amounts, reached $5 billion in 2019 and is expected to reach $8 billion in 2020, it said. Both the transaction volume and numbers are expected increase this year.

Ernst & Young added it expects a rise in initial public offerings in 2020 and that there was a window in the first two quarters of the year.

Reporting by Ebru Tuncay; Writing by Ali Kucukgocmen; Editing by Jonathan Spicer

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