Deals
Turkey Firms Ready $64 Billion Spending Spree to Leave Home
- Political turmoil, slower growth seen driving companies abroad
- Bain expects more Turkish companies to invest in U.S., Europe
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Robert Yuksel Yildirim had barely been at the family’s construction-materials business a year before the company won its first international contract. Now, it’s a conglomerate with interests in mining, ports and chemicals across 28 countries.
Twenty four years after the deal to import coal directly from Russia was sealed, the impetus to expand Yildirim Holding AS beyond its Turkish home base is stronger than ever. The political fallout from a failed coup in July last year is hindering economic growth and making it harder for firms to operate in a market many see as saturated, cluttered with red tape and expensive for acquisitions.