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