 'We are holding talks with potential foreign buyers for RodiMood,' says a partner at Daruma. |
Turkish casual-clothing retailer RodiMood is seeking foreign partners, a representative from the company’s financial adviser Daruma Corporate Finance, an increasingly active mediator in Turkish market, said in an interview Monday.
The company may sell a stake to foreign investment this year, said Özkan Yavaşal, partner at Daruma, the Istanbul-based adviser for mergers and acquisitions valued at $50 million and $150 million. Investors from the Persian Gulf, Asia and Europe are interested, he said.
Turkish assets have lured domestic and international investors as the country’s economy outpaced every member of the Group of 20 nations except for China in 2010. Turkey’s economy grew at an annual rate of 8.9 percent in the first three quarters of 2010 and it is expected to expand by 8 percent in 2011, the International Monetary Fund said recently. As Turkish mergers and acquisitions, or M&A, earned a record $29 billion in 2010, they are still expected to be worth around $20 billion in 2011, Deloitte Turkey said in a recent report.
“We are holding talks with potential foreign buyers for RodiMood,” said Yavaşal. The company has annual sales of around $200 million, he said. RodiMood makes jeans and other casual clothing, according to its Website.
Other Daruma operations
Daruma was hired by a Turkish crane-tower rental company that Yavaşal declined to identify because of a confidentiality agreement. The company is “a leading one in the business and seeking a foreign partner,” he said.
Companies from food and non-food retail, logistics and energy industries have signed exclusive deals with Daruma to act as adviser to provide equity finance, non-recourse project finance and mezzanine finance, said Tülay Kaya, a partner at Daruma, during the same interview.
Daruma is also advising a Spanish energy company on possible investments in Turkey, Kaya said. She declined to identify the company.
Daruma aims to complete three M&A deals in the next three months, including a deal for Istanbul-based hospital chain Universal Saglik Yatırımları Holding, and two structured-debt transactions, one for a real estate industry company and another for a 100-megawatt wind-energy project, Kaya said. She declined to release the value of the deals.
Daruma is advising the owners of Universal Sağlık Yatırımları Holding, a Turkish chain of 18 hospitals including the German Hospital in central Istanbul, on the sale of a minority stake, Yavaşal said. The transaction may be announced “at the end of January or the start of February,” he said. He declined to comment on whether Asia Debt Management Capital of Hong Kong is in talks to buy the Universal Sağlık stake, as reported by daily Sabah on Dec. 30, 2010.
Turkey’s growing health-care industry has attracted investors including Abraaj Capital Ltd., the Middle East’s biggest private-equity firm, which bought 54 percent of hospital operator Acıbadem Saglık Hizmetleri, the biggest private hospital chain in the country, for about $606 million in 2007 and 2008. Carlyle Group, the world’s No.2 private-equity firm, bought 40 percent of hospital operator Medical Park Sağlık Grubu for an undisclosed price in 2009.
Daruma advised for Medical Park in the transaction with Carlyle and for Argus Capital Partners and Qatar First Investment Bank in their purchase of a 40 percent stake in the Istanbul-based hospital chain Memorial Health Group.
Daruma aims to complete M&A transactions this year worth more than the approximately $500-million-worth of deals they worked on in 2010, he said.
The company may sell a stake to foreign investment this year, said Özkan Yavaşal, partner at Daruma, the Istanbul-based adviser for mergers and acquisitions valued at $50 million and $150 million. Investors from the Persian Gulf, Asia and Europe are interested, he said.
Turkish assets have lured domestic and international investors as the country’s economy outpaced every member of the Group of 20 nations except for China in 2010. Turkey’s economy grew at an annual rate of 8.9 percent in the first three quarters of 2010 and it is expected to expand by 8 percent in 2011, the International Monetary Fund said recently. As Turkish mergers and acquisitions, or M&A, earned a record $29 billion in 2010, they are still expected to be worth around $20 billion in 2011, Deloitte Turkey said in a recent report.
“We are holding talks with potential foreign buyers for RodiMood,” said Yavaşal. The company has annual sales of around $200 million, he said. RodiMood makes jeans and other casual clothing, according to its Website.
Other Daruma operations
Daruma was hired by a Turkish crane-tower rental company that Yavaşal declined to identify because of a confidentiality agreement. The company is “a leading one in the business and seeking a foreign partner,” he said.
Companies from food and non-food retail, logistics and energy industries have signed exclusive deals with Daruma to act as adviser to provide equity finance, non-recourse project finance and mezzanine finance, said Tülay Kaya, a partner at Daruma, during the same interview.
Daruma is also advising a Spanish energy company on possible investments in Turkey, Kaya said. She declined to identify the company.
Daruma aims to complete three M&A deals in the next three months, including a deal for Istanbul-based hospital chain Universal Saglik Yatırımları Holding, and two structured-debt transactions, one for a real estate industry company and another for a 100-megawatt wind-energy project, Kaya said. She declined to release the value of the deals.
Daruma is advising the owners of Universal Sağlık Yatırımları Holding, a Turkish chain of 18 hospitals including the German Hospital in central Istanbul, on the sale of a minority stake, Yavaşal said. The transaction may be announced “at the end of January or the start of February,” he said. He declined to comment on whether Asia Debt Management Capital of Hong Kong is in talks to buy the Universal Sağlık stake, as reported by daily Sabah on Dec. 30, 2010.
Turkey’s growing health-care industry has attracted investors including Abraaj Capital Ltd., the Middle East’s biggest private-equity firm, which bought 54 percent of hospital operator Acıbadem Saglık Hizmetleri, the biggest private hospital chain in the country, for about $606 million in 2007 and 2008. Carlyle Group, the world’s No.2 private-equity firm, bought 40 percent of hospital operator Medical Park Sağlık Grubu for an undisclosed price in 2009.
Daruma advised for Medical Park in the transaction with Carlyle and for Argus Capital Partners and Qatar First Investment Bank in their purchase of a 40 percent stake in the Istanbul-based hospital chain Memorial Health Group.
Daruma aims to complete M&A transactions this year worth more than the approximately $500-million-worth of deals they worked on in 2010, he said.
No comments:
Post a Comment