Turkish Competition Authority Publishes the 2025 Mergers and Acquisitions Outlook Report

The Turkish Competition Authority (“Authority”) has published the 2025 Mergers and Acquisitions Outlook Report (“Report”) on its official website on 7 January 2026.

The Report is based on data relating to mergers, acquisitions, and privatization transactions reviewed and finalized by the Competition Board throughout 2025. The key findings of the Report are summarized below:

• In 2025, a total of 416 merger, acquisition, and privatization transactions were reviewed by the Turkish Competition Authority.
• Excluding privatizations, the number of merger and acquisition transactions involving Turkey-based target companies amounted to 162. The total notified transaction value of these transactions reached approximately TRY 466.1 billion (USD 11.81 billion), representing the highest transaction volume recorded since 2013.
• During the same period, 19 privatization transactions were reviewed, with a total transaction value of approximately TRY 108.0 billion (USD 2.74 billion).
• Overall, 181 transactions involving Turkey-based companies were examined in 2025, with an aggregate transaction value of approximately TRY 574.2 billion.
• Regarding sectoral distribution:

• Among mergers and acquisitions involving Turkey-based target companies, the highest number of transactions (25 transactions) occurred in the field of computer programming, consultancy, and related activitiesʿ.
• The highest transaction value was recorded in the sector of financial intermediation activities.
• Privatization transactions were predominantly concentrated in the sectors of electricity generation, transmission and distribution, wholesale trade of household goods, and manufacturing of wires, cables, and related equipment used in cabling.
• The largest privatization transaction was realized in the field of electricity generation, transmission, and distribution, with a value of approximately TRY 54.6 billion.

• The Competition Board finalized merger and acquisition transactions in an average of 10 days from the final notification date during 2025.

You can access the full text of the Report here.

 

Kind regards,

Zumbul Attorneys-at-Law

info@zumbul.av.tr

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