Borusan Closes at 5-Month High in Istanbul on Growth Plans

Borusan Mannesmann Boru Sanayi & Ticaret AS, a Turkish producer of steel and plastic pipes, rose to the highest level in more than five months after its parent company said it was planning acquisitions.

Borusan shares gained 1.5 percent to 26.90 liras, rising for a third day and reaching the highest since Nov. 10.

Borusan Holding AS targets acquisitions in “all areas” in which it operates, Chief Executive Officer Agah Ugur said in a press release today. The company is planning $513 million of investments this year, according to the release.

Borusan Yatirim & Pazarlama AS, a group company with interests in the automotive and energy industries, advanced 2.8 percent to 10.90 liras.