Sabanci Goes for Energy
Guler Sabanci, chairperson of Sabanci Holding, one of Turkey’s largest conglomerates, is betting on energy. The bulk of the diversified group’s $1.5bn investments this year will be in electricity as the company tries to take advantage of “the serious transformation of Turkey’s energy sector,” Sabanci explains in an interview in FT’s special report on Turkey published on December 7th, 2010. The conglomerate, which now has half of its consolidated revenues in financial services, aims to seize a 10 per cent share of the fast-growing power market by 2015 through the jointly-owned generator and distributor Enerjisa.
- Published in Turkey
US power producer AES Corporation has entered into an agreement with Koc Holding to form a joint venture to develop and operate power generation projects in Turkey. Under the deal, AES will buy almost 50% interest in Turkish utility Entek Elektrik Uretimi from Koc unit Aygaz.
Hong Kong based trade fair organizer United Business Media (UBM) announced that it has agreed to acquire a 65% stake in Rotaforte International Trade Fairs & Media, the owner of the Istanbul Jewelry Show. Financial terms of the deal were not disclosed. The announcement follows UBM’s pending $289 million acquisition of Canon Communications in the U.S.
Crown Holdings, Inc. (NYSE: CCK), a leading supplier of metal packaging products worldwide, announced today a major expansion of its beverage can production capacity in Turkey. The investment plan includes increasing capacity at the Company's existing two-line facility in Izmit, near Istanbul, and the construction of a new manufacturing plant in the Osmaniye region, in south-central Turkey.
