| The Carlyle Group Acquires 40 Percent of Turkey's Medical Park Hospitals |
| 30 April 2010 |
December, 2009
According to the Carlyle Group press release, Global private equity firm The Carlyle Group today announced it has acquired a 40 percent stake in Medical Park Sağlık Hizmetleri A. Ş., Turkey's second largest healthcare services company. The founding shareholders, the Sancak and Usta groups, will remain as significant investors in Medical Park. Carlyle's all-equity investment will be used primarily to finance the hospital company's continued expansion and reduce debt. Additional financial details were not released. The transaction closed on December 7, 2009.
Can Deldağ, Carlyle Managing Director and Head of the Turkish investment team, said, "We, as Carlyle, are very pleased to invest in a strong, growing company like Medical Park. The Turkish healthcare services sector shows great promise as patient demand for services has been high and is expected to grow steadily."
Medical Park (www.medicalpark.com.tr)was established in 2005 with two existing hospitals based in Istanbul dating from the mid-1990s. Through the development of new hospital projects in leading cities in Western Turkey, and the acquisition of single hospitals based in North and East Anatolia, Medical Park now owns and operates 13 hospitals with 2,000 beds as of 2009. Medical Park provides a diverse range of healthcare services with 800 physicians, 1,600 nurses and 2,800 support personnel.
Equity for this investment, Carlyle's second in the MENA region, will come from Carlyle MENA Partners, a $500 million growth capital and buyout fund that closed in March 2009.
Labels: Can Deldag, Carlyle Group, Medical Park, Sancak, Usta
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| Carlyle Group Gets Its Feet Wet In Turkey: Aquires 50% of TVK Shipyard |
| 28 July 2008 |
Yes, I know it has been awhile, and I'm sorry for that. I'll try to feed the most recent stories that have occured this summer.
It seems Can Deldag of Carlyle Group in Turkey has come through with his words last spring. We knew that Carlyle had something in the works that would bear fruit this summer.
At right, you can see (L-R) Walid Musallam, head of Carlyle Middle East and North Africa, Can Deldag, director of Carlyle Turkey and Can Topsakal, TVK board member.
The most relevant stories are from suprisingly the Hurriyet's English division:
Carlyle group acquieres 50 pct of Turkey's TVK
and a somewhat comical TDN report:
Carlyle Group partners with TVK
When interviewed by Reuters, Can Deldag had this to say.
"We can easily complete 2-3 investment projects in the next 18 months. These could be companies operating in health, logistics, transport and non-food retail sectors," Deldag said.
"If we have the opportunity we could invest in other companies, including non-bank financial firms too," he said.
Carlyle, which has assets worth $82.7 billion globally, did not set up a separate fund for its investment in Turkey but has a global fund worth $35 billion to finance such investments.
"We do not plan to get out of our investments in Turkey in 1-2 years. We're looking at it with a longer perspective," Deldag said.
The company planned to prepare TVK for an initial public offering (IPO) by 2010, after capital injection and corporate governance have been put in place, he said, adding that it might invest in other ship building companies.
Deldag saw private equity investments in Turkey rising in the coming years. "Under the current circumstances, there's no reason why Turkey should not attract $3-5 billion private equity investments from 2009 annually," he said.
I know some of you had asked for any pertinant information on Carlyle and their activities in Turkey, but this is the best that can be put together at the moment.
Labels: Can Deldag, Carlyle Group, Shipbuilding, Shipping, TVK
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| Turkey's First Hedge Funds; Trouble for Turkcell; Carlyle Group's Summer Intentions; and Turkiye Finans and NCB |
| 06 April 2008 |
İş Bank's investment division, İş Invest (İş Yatırım Menkul Değerler), has been approved by the Capital Markets Board to operate a hedge fund. It will have an initial YTL 30 million ($23 million) under management.
The İş Invest's announcement comes one day after Garanti Bank, the Turkish lender co-owned by General Electric Co., said it received approval to open Turkey's first hedge fund. The fund initially will have about YTL 500 million ($388million) under management.
TDN: Banks race to open first hedge fund in Turkey
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It seems Russia's Alfa Group, just after acquiring AFM cinemas, may be about to gain control of Turkey's largest mobile phone network, Turkcell. The deal is hinging on a court case between Turkcell stockholders, Alfa Group and Çukurova Holding.
TDN: Russia's Alfa dreams of Turkcell ownership
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Carlyle Group's Can Deldag made an announcement stating to be on the lookout for deals coming this summer, possibly in June. The news is fairly weak, but you can judge for yourself.
TDN: Carlyle Group plans acquisitions in Turkey
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I reported on the Turkiye Finans deal with NCB last year, and it appears the due diligence has come full circle and finally been completed. The announcement was made last week.
TDN: Saudi Arabia's NCB buys Türkiye Finans
Labels: Alfa Group, Carlyle Group, Garanti Bank, Is Yatirim, Islamic Banking, NCB, Turkcell, Turkiye Finans
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Publisher: Jon H. Black
