IS Investment Corporate Finance

IS Investment
Corporate Finance
September 2014
1
IS Investment and Corporate Finance
References
Attachments
IS Investment İş Bank Group
2
Leader Position
•
Worldwide Branch Network
With a history of more than 80 years and US$ 103.3 billion
asset size, İş Bank is Turkey’s largest private bank.
• İş Bank’s market capitalization as of 18 June 2014 is US$
11.97 billion.
GERMANY
ISBANK GMBH
AG
13 BRANCHES
NETHERLANDS
ISBANK GMBH
1 BRANCH
SWITZERLAND
ZURICH
ISBANK GMBH
AG
1 BRANCH
BAHRAIN
1 OFF-SHORE
BRANCH
EGYPT
REPRESENT.
OFFICE
CHINA
REPRESENT.
OFFICE
İş Bank in Numbers*
No
Area
1
Assets
1
Deposit
1
Branch Network
1
Loans
RUSSIA
CJSC
ISBANK
12
BRANCHES
Numbers
US$ 103.3 bn
US$ 58.9 bn
More than 1,300
KOSOVO
US$ 65.3 bn
2 BRANCHES
TURKEY
1,317
BRANCHES
•
Source: Public Disclosure and İş Bank Investor Relations Presentation
(June 2014)
U.K.
LONDON
2 BRANCH
FRANCE
PARIS
ISBANK GMBH AG
1 BRANCH
NORTHERN
CYPRUS
GEORGIA
15 BRANCHES
2 BRANCH
BULGARIA
ISBANK AG
1 BRANCH
IRAQ
2 BRANCHES
IS Investment İş Bank Group Structure and Participations
3
Shareholder Structure
Main Business Lines of İş Bank Group
•
There are around 250,000 domestic and foreign shareholders.
Financial Participations – 18 Companies
•
75% of the free float is held by foreign investors.
•
Stocks are quoted on ISE and also traded on LSE in the form of GDR
(Global Depository Receipt).
Free Float
%32
İş Bank
Pension
Fund
%40
Atatürk
Shares
%28
(As of 12.12.2013)
Banking Services
•
•
•
Corporate Banking
Retail Banking
Private Banking
•
•
•
Capital Markets
Project Finance
Other Banking Services
Sector
Company Name
Market
Capitalization
Insurance
Anadolu Insurance
ANSGR.IS: 330 mn$
Private Pension
Anadolu Pension Fund
ANHYT.IS: 862 mn$
Investment Banking
İş Investment
ISMEN.IS: 190 mn$
Asset Management
İş Asset Management
Private Equity
İş Private Equity
ISGSY.IS: 77 mn$
Leasing
İş Leasing
ISFIN.IS: 203 mn$
Factoring
İş Factoring
REIT
İş REIT
ISGYO.IS: 427 mn$
Non-Financial Participations – 14 Companies
Sector
Company Name
Market Capitalization
Glass
Şişecam
SISE.IS:
Market Cap:2,283 mn$
Telecommunications
AVEA
Others
İş Net Elektronik,
Softtech, Ant
Gıda, Bayek
Sağlık
* Market Caps are as of August 26, 2014
IS Investment Outlook
4
Leader Investment Bank
Participations

IS Investment, an investment bank in international terms, aims to
answer the needs of clients with integrated solutions.

With 11 branches and 1 representative office, 3 offices abroad, it
has a strong and widespread distribution network through the
agency network of more than 1,300 İş Bank branches.
•
In the 2nd quarter of 2014 IS Investment’s market share among
Brokerage Agencies is :
•
7.7% in Stock Market,
•
11.2% in Derivatives,
•
7.1% in Corporate Bonds Market among other Equity Houses.
Numbers
Shares
In May 2007, IS Investment (ISMEN.IS) went
public itself as the first investment banking
institution to be traded on the ISE.
Fitch Ratings National
Long Term Rating:
AA+(tur)
İş Investment Trust (Share: 28.9%)
Turkey’s leading Investment Trust
İş Private Equity: (Share: 29.1%)
Turkey’s largest Private Equity
• IS Investment has the leader position in the stock market and
derivates and is in fourth place in the corporate bonds market.
No
İş Asset Management: (Share: 70%)
Turkey’s leading Portfolio Management Company managing İş Group
funds
Market
Capitalization*:
US$ 191 mn
* As of August 26, 2014
Maxis Securities: (Share: 100%)
London headquartered B Group capital markets licenced subsidiary
İş Investment Gulf Ltd. (Share: 100%)
We are liquidating our fully owned subsidiary based in Dubai
Efes Asset management: (Share: 74%)
Leading asset management focusing on receivable management
Shareholder Structure
Free Float
%29
İş Bank & İş
Bank Group
Companies
%71
* As of August 26, 2014
IS Investment Activities
Services
Corporate Finance
• Public Offerings
• Mergers & Acquisitions
• Project Finance
5
Widespread Investors Portfolio
•
•
•
Privatization Advisory
Strategic Planning
Private Equity
Asset Management
• Discretionary Portfolio Management
• Mutual Funds Management
• Private Funds Management
İş Group
Funds;
22%
Others;
78%
İş Group is
Turkey’s
Largest Fund
Management
Group
A market share of
approximately 50%,
with more than
400,000 active
accounts
Turkey’s Most Admired Brokerage House
Investment Advisory
• Individual Clients
• Corporate Clients
• Institutional Sales
Research
• Macroeconomy
• Sector Research
• Company Analysis
•
•
Fixed Income
Securities Analysis
Strategy Reports and
Presentations
Brokerage & Trading
• TL/FX Stocks
• TL/FX Treasury Bond/ Government Bond
• TL/FX Private Sector Bonds
• TL/FX Derivatives
IS Investment was awarded with “Turkey’s Best Equity House”
in 2007 and 2008, “Best M&A House” in 2009, 2014 and “Best
Investment Bank” in 2010, 2011, 2012 and 201 by Euromoney
Magazine in “Euromoney Excellence Award” category. In 2010
and 2011, Mergermarket selected IS Investment for the
“Financial Adviser of the Year” award. EMEA Finance Magazine
selected IS Investment the “Best Investment Bank in Turkey” in
2010 and 2011 and “Best Broker in Turkey” in 2011 in Europe
Banking Awards.
2009
2011
Best Broker in Turkey
2011
Financial Adviser of the Year
2010,2011,2012 and 2013
Best Investment Bank in Turkey
Best M&A House in Turkey
2007 and 2008
Best Equity House in Turkey
2003, 2004, 2005, 2008,
2009, 2010
Most Admired Brokerage House
in Turkey
IS Investment Strong Research and Sales Team
Leader Investment Bank in Organized Markets
Stocks
Derivatives
Bonds-Market Share
İş Bank Branches: More
approximately 3,000 ATMs
160
100
1
20
1
1
1
3
2
1
1
1
1
2
1
2
1
3
3
and
20%
Call Center ve Interactive Telephone: Free of charge Interactive
telephone banking service
15%
1
1
branches
NetMatik: Interactive banking for credit cards and all transactions with
free of charge under a developed system.
1
1
80
40
1
1
domestic
25%
5
10%
Market Share(%)
Trading Volume (bn TL)
1
1,200
GSM Banking: Mobile Bank Branches
1
1
than
Internet: Convenient transactions from İş Bank and IS Investment websites
30%
120
60
Widespread Distribution Network
Bonds
Stocks-Market Share
Derivatives-Market Share
140
6
Wide Range of Products
5%
4
0
Daily
Market
Watch
Macroeconomic
Reports
Week
Ahead
Sector
Reports
Strategy Reports on
Stocks & Fixed
Income Securities
Internation
al Markets
Company
Reports
Money &
Capital
Markets
Portfolio
Recomme
ndations
Special Research for
Institutional Investors
0%
2006
2007
2008
2009
Source: Borsa Istanbul, TDE
2010
2011
2012
2013
2014/6
IS Investment is the leader in capital
markets with its strong research team, wide
distribution network and corporate finance
experience
•
All reports are prepared in English and Turkish and the database is
open for access to all users on our internet web-site.
IS Investment Leading Institution in International Markets
Trading Volume in International Markets
7
Leading Institution in International Markets
Million $
30.000
1400
2,060
1200
1.179
25.000
1000
2,640
865
15.000
707
800
698
600
10.000
391
5.000 3,147
0
71
882
517
2006
2007
International FIS
551
2,904 18,145
885
26,773 2,733
9491103
780
779
448
605
2008
2009
2010
International Equity
2011
2012
363
Thousands
1.025
20.000
400
PETROL OFİSİ
2009-Eurobond
issue Co-Leader
TURKISH REPUBLIC
2036-Eurobond
issue Co-Leader
TURKISH REPUBLIC
2025 - Eurobond
issue Co-Leader
TURKISH REPUBLIC
2014 - Eurobond
issue Co-Leader
1,500,000,000 $
2,000,000,000 $
1,250,000,000 $
175,000,000 $
INTERGAS
FINANCE
2011 - Eurobond
issue Co-Leader
FİNANSBANK
RUSSIA
2008 - Eurobond
issue Co-Leader
GLOBAL YATIRIM
HOLDING
2012 - Eurobond
issue Co-Leader
ALLIANCE BANK
2010 - Eurobond
issue Co-Leader
250,000,000 $
150,000,000 $
100,000,000 $
200,000,000 $
BANK POZİTİF
2012 - Eurobond
issue Co-Leader
AK BARS BANK
2010Eurobond
issue Co-Leader
150,000,000 $
250,000,000 $
200
316
2013 2014/6
0
# Der. Contracts (Right Axis)
IS Investment’s “International Capital Markets Department” with its
experienced team, is the only brokerage house having a membership
in “International Securities Market Association”
IS Investment is committed to grow in
international markets through Maxis Securities
–an FSA licenced subsidiary in London and
Almaty Dubai Representative Office.
IS Investment Corporate Finance Team Structure
8
The Largest Corporate Finance Department
in Turkish Investment Banking with 29
Employees
152
Deals
25.1 bn $
PUBLIC
OFFERINGS
117 Deals
10.9 bn $
MERGERS &
ACQUISITIONS
More than 270 deals, worth in excess
of 39 bn$*, were completed by İş
Investment since 2000
* Including 3.9 bn$ Wholesale and Special Order
transactions
Consumer
Goods
25 Deals
5.7 bn$
CORPORATE
BOND PUBLIC
OFFERINGS
Basic
Industries
45 Deals
1.3 bn$
Technology,
Media,
Communication
11 Deals
103 mn$
PRIVATE
SECTOR
ADVISORY
Health,
Tourism,
Services
33 Deals
1.4 bn$
Energy,
Construction,
Mining
21 Deals
4.1 bn$
PROJECT
FINANCE
ADVISORY
PRIVATE EQUITY
ADVISORY
Financial
Institutions
130 Deals
22.2 bn$
IS Investment Global Outreach & Cooperation
Iş Investment, through its strong network of international and local I-Banks in numerous countries
around the World, is continuously expanding its outreach and alerting its clients of opportunities that
arise in the respective countries
9
IS Investment Equity Public Offerings
Equity POs Quantity
1990-2014/06
Privatizations & Private Sector Equity POs
1997-2014/06
•
İş Investment has served 33 of 34 privatizations (as Lead Manager
in 29 and Co-Lead Manager in 4) which were conducted as public
offerings in Turkey since 1990-2014.
•
İş Investment has served in 38 private sector public offerings as
Lead Manager since 1990-2013/12 including DO & CO Offering
which is the first foreign company became listed in Turkey
29
67
37
İş Yatırım*
10
Garanti
Yatırım**
15
31
Global
Menkul
İş Yatırım
Global
Menkul
13
Garanti
Yatırım
*Total of İş Bank and İş Investment
**Total of Garanti Bank, Körfez Bank and Garanti Securities
Note: İş Investment was founded in December 1996.
Equity POs Size
1997-2014/06
Source: Borsa Istanbul
TL (billion)
8.9
5.2
4.5
1.7
İş Yatırım
•
Finans
Yatırım
Garanti
Yatırım
TSKB
1.2
Deniz
Yatırım
Having a share of 33%, İş Investment is the leader in equity
offerings market in Turkey in terms of both size and number of
transactions.
İş Bank since 1988 and İş Investment since its
foundation, have served as the Lead Manager in
67 equity public offerings, which makes it by far
leader among competitors.
IS Investment Corporate Bond Public Offerings
Corporate Bond Public Offerings* Quantity
50
45
40
35
30
25
20
15
10
5
0
11
Private Sector Corporate Bond Public Offerings
45
24
24
24
24
17
İş Yatırım Garanti
Yatırım
Ak
Yatırım
Deniz
Yatırım
Aktif
Yatırım
Finans
Yatırım
16
Asya
Yatırım
9
8
Vakıf
Yatırım
Yapı
Kredi
Yatırım
6
Ziraat
Yatırım
Corporate Bond Public Offerings* Size
*As June 30 2014
9.000
8.000
7.000
6.000
5.000
4.000
3.000
2.000
1.000
0
7.754
5.153
4.175
3.080 2.851
2.676
2.628
1.941 1.878
1.047
İş Yatırım Garanti
Yatırım
Yapı
Kredi
Yatırım
Source: Borsa İstanbul
Ak
Yatırım
Finans
Yatırım
Vakıf
Yatırım
Deniz
Yatırım
Ziraat
Yatırım
Halk
Yatırım
Diğer
IS Investment has worked on 45 corporate bond
public offerings in the market in the second
quarater of 2014 and became the market leader
with 23% share in terms of issue size.
IS Investment Corporate Finance Mergers & Acquisitions
IS Investment M&A Transactions (2002-2013/12)
Deal Value (mn $)
3.500
Number of Deals
12
Leader in M&A Transactions
14
3.000
12
2.500
10
2.000
•
•
•
Since 2000, IS Investment has closed 109 M&A transactions
that were worth more than US$ 10 bn.
20% of the transactions were cross-border deals
Among M&A services;
•
Project Screening and Targeting
8
•
Mergers
1.500
6
•
Acquisitions
1.000
4
•
Asset Sales
500
2
•
Joint Ventures
0
0
•
Project Finance
•
Mandatory Calls
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Source: Mergermarket
#
By Transaction Numbers (01.201331.12.2013)
Company
Mn$
Adet
By Value (01.2008-12.2013)
#
Company
Mn$
No. of
Deals
1
Raiffiesen Centrobank
17.117
34
1
IS Investment Securities
2
Goldman Sachs
15.603
17
2
Raiffeisen Centrobank
3
JP Morgan
14.637
12
3
.
…
6
İş Yatırım
8.504
43
PwC
Pragma Corporate
4
Finance
5
Goldman Sachs
•
550
11
5.135
10
615
7
•
•
184
6
1,156
5
Iş
Investment
completed
11
transactions across the whole board
of sectors and specifications in 2013
2
Consumer
Goods,
5
Basic
Industries,
1
Telecom-MediaTechnology, 1 Energy-ConstructionsMining, 2 Health-Tourism-Services
deals were completed
8 deals were cross border, 3 were
Turkey outbound, 3 were PE
oriented; in total 6 sell-side and 5
buy-side advisory projects.
Source: Mergermarket
According to MergerMarket rankings for the January 2008 – December 2013 period, IS Investment is the leader among
domestic banks in terms of deal volume and is the leading domestic bank in terms of number of transactions for 2013.
IS Investment Corporate Finance Awards
Best M&A House & Best Equity House Awards
In 2009 IS Investment was awarded by
Euromoney Magazine with “Turkey’s Best
M&A House”. Despite the financial crisis,
IS Investment managed to complete
successful deals in 2009 from various
sectors.
IS Investment has also won “Best M&A
House in Turkey” award in 2007& 2008.
13
Best Investment Bank Award
In 2010, 2011, 2012 and 2013 IS
Investment was awarded by Euromoney
Magazine, with “Turkey’s Best Investment
Bank”.
IS Investment Corporate Finance Awards
14
Mergermarket's European M&A Awards 2010
Country
Germany
Financial Adviser of the Year
Goldman Sachs
Iberia
Credit Suisse
Israel
Goldman Sachs
Turkey
Russia
Middle East& North Africa
IS Investment
Goldman Sachs
HSBC Bank
Mergermarket, the most prestigious and
respected data collector in the sector, awarded
IS Investment the “ Financial Advisor of the
year in Turkey” award in 2010.
Mergermarket’s league tables are the most
accurate and sought after ranking of
investment banks in terms of number of deals
and deal values. In most countries,
international investment banks were awarded
the prize; in Turkey however, the award went
to IS Investment, a local investment bank.
IS Investment Corporate Finance Privatizations
Block Sale
Sell Side Advisor
Block Sale
Buy Side Advisor
IPO
Consortium Leader
29 Projects
US$ 2.7 bn
38 Projects
US$ 1.2 bn
4 Projects
US$ 2.5 bn
15
• Between 2000-2013/12, IS Investment worked on 29 sell side
advisory mandates that were worth US$2.7 billion.
• Between 2000-2013/12, IS Investment worked on 38 buy
side advisory mandates and completed 5 transactions that
were worth US$1.2 billion. IS Investment is currently working
on 2 buy side mandates.
• Between 2000-2013/12, IS Investment has worked on 4
privatizations via public offering transactions worth US$2.5
billion.
IS Investment advised 71 privatization projects worth US$6.4 billion since 2000.
IS Investment Corporate Finance Sell Side Advisory
16
Sell-Side Advisory
December
2009
December
2009
AYVALIK TUZ
SALTPAN
ÇAMALTI
SALTPAN
6,000,000 $
2003
TEKEL
ALCOHOLIC
DRINKS
292,000,000 $
76,000,000 $
2003
GERKONSAN
3,015,000 $
2008
TEKEL TOBACCO
1,720,000,000 $
2007
HALKBANK
Privatization via
Public Offering
1,800,000,000 $
2003
2003
TAKSAN
SAKARYA
TRAKTÖR
SANAYİ
10,000,000 $
2,300,000 $
2005
2004
YAVŞAN,
KAYACIK,
KALDIRIM
SALTPANS
CYPRUS TURKISH
AIRLINES
İSTANBUL
FERTILIZER
COMPANY
120,000,000 $
33,000,000 $
100,500,000 $
2005
2000
TDİ- ALANYA AND
ÇEŞME PORTS
27,850,000 $
2000
2000
TDİ- DİKİLİ AND
KUŞADASI PORTS
TDİ- MARMARİS
PORT
66,200,000 $
14,900,000 $
Between 2000-2013/12 IS Investment worked on 29 sell-side mandates worth US$ 2.7 billion and 4 privatization via
IPO projects worth US$2.5 billion.
IS Investment Corporate Finance Buy Side Advisory
17
Buy-Side Advisory
2012
2012
2011
2011
Local
Investor
Local
Investor
Local
Investor
Local
Investor
Başkent
Natural Gas
Distribution
KÜMAŞ
Magnesite
Sugar
Factories
Portfolio B
Sugar
Factories
Portfolio C
2009
2009
Bilkent
Kültür
Gelişim
2009
Aksa Group
Çoruh,
Osmangazi,
Yeşilırmak
Electricity
Distribution
Museums
2011
2010
2010
Local
Investor
Aksa Group
Local
Investor
İstanbul
Seabuses and
Fast Ferries
Toroslar
Electricity
Distribution
Akdeniz and
AYEDAŞ
Electricity
Distribution
2008
2008
2008
2007
Local
Investor
Local
Group
Torunlar
Gıda
Local
Group
National
Lottery
ADÜAŞ
Power
Plants
Bandırma
Port
2005
2005
2005
2005
2005
Kuwait
Company
Assan Demir
ve Sac
Sanayi
Anadolu Ins.
& Anadolu
Pens. Fund
Kazancı
Holding
Local
Company
Başak Life Ins&
Pension Fund
Samsun
Fertilizer
Factory
Tüpraş
Seydişehir/
Oymapınar
Aliminium
Plant
Mersin Port
2010
Boydak
Holding
EUAS Run-off
River Power
Plant Portfolios
2010
Aksa Group
2010
Aksa Group
Trakya,
Boğaziçi
Electricity
Distribution
Çamlıbel,
Uludağ and
Fırat Electricity
Distribution
2006
2006
2006
Local
Consortium
International
Company
Doğuş Çay
International
Company
Derince
Port
Petkim
Petrochemical
Electricity
Distribution
Sugar
Factories
Erdemir
2004
2004
2002
Petrol Ofisi
Vehichle
Inspection
Stations
Local Group
Eti Krom
İş- Doğan
Partnership
Petrol Ofisi
Between 2000-2013/12, IS Investment had buy-side mandates in 34 M&A transactions and completed 5 deals worth
US$1.2 billion.
IS Investment Corporate Finance Private Sector Advisory
Economic
Strategy
Feasibility
Development
Evaluation
Strategic Planning
Business Plan
Portfolio Strategy
Financial Valuation
Restructuring
Feasibility Analysis
Identification of
Investment &
Financial Needs
Identification of
Financing Needs
18
Contacting
Investors
Contacting Financial
Institutions
Presentations &
Negotiations
Selected Sector Advisory References
Industry Analysis
IS Investment is the leading institution of Turkey in Restructuring Advisory as well as M&A
Advisory and provides the complete package of private sector advisory services for its clientele
operating in various fields.
IS Investment Corporate Finance Project Finance and Private Equity Advisory
Project Finance References
2010
ÇORUH
ELECTRICITY
DISTRIBUTION
2010
FIRAT
ELECTRICITY
DISTRIBUTION
2005
KAYSERİ
ŞEKER
FABRİKASI
A.Ş.
Private Equity Deals in Turkey
2007
ODE
YALITIM
SANAYİ VE
TİCARET
A.Ş.
2008
Katkı
82
MW
HYDROPO
WER
PROJECT
4.701
5.000
4.287
4.500
4.000
3.500
€19,000,000
$45,000,000
500
0
1.211
4
34
8
3
•
Acquisition finance in the energy distribution sector
•
Up to US$200 million acquisition finance for a privatization in the FMCG
sector
•
Acquisition finance in the construction sector
35
30
25
18
6
17
245
20
21
458
803
998
15
10
5
0
Source: Dealwatch
Ongoing Project Finance Projects
29
1.600
1.500
€124,500,000
40
31
28
2.000
$140,000,000
45
2.978
3.000
1.000
50
44
39
2.500
$145,000,000
19
Deal Volume (mn $)
Total Deal Number
Private Equity Advisory Transactions
Basic
Industries
Financial
1
Institutions
2
Health,
Tourism &
Services
7
Consumer
Goods
5
Technology,
Media,
Communication
7
IS Investment advised Private Equity companies for 17 investments
and 7 exits.
20
IS Investment and Corporate Finance
References
Attachments
IS Investment International Clients of Corporate Finance Team
BLUE SQUARE
REAL ESTATE
IS Investment boasts a portfolio of clients from many countries and continues to add to its network.
21
IS Investment Corporate Finance Mergers & Acquisitions Deal List (Part I)
August 2014
March 2014
Söktaş has sold
Mermerler Group
Nisan Enerji
100% shares to Tat Gıda
Acquired 100% shares of
Ant Gıda A.Ş.
Has sold 50% of shares to
Boydak Enerji
Financial Advisor to Seller
Financial Advisor to Seller
Financial Advisor to Seller
32,000,000 TL
Undisclosed
43,200,00 €
July 2013
June 2013
Hakan Plastik
Seramiksan
August 2013
June 2013
Trakya Cam has entered a JV
with
August 2013
July 2013
July 2013
Aksa Akrilik
OZN Elektronik Ticaret
İş Venture Capital has sold
has acquired 40% of the shares
of Ak-Tops
Has sold 37% shares to
EBRD, 212 Capital Ventures and
Simile Ventures
Financial Advisor to Seller
25% shares to Oesterreichische
Post AG
5,000,000 US$
65,000,000 US$
Financial Advisor to Buyer
11,000,000 US $
May 2013
Trakya Cam
May 2013
Dharma İlaç
Financial Advisor to Seller
April 2013
Doğuş Çay A.Ş.
Has acquired 100% of
Has acquired 50% shares of
Has sold majority shares to
Georg Fischer Piping Systems
Ltd.
Financial Advisor to Seller
Deal Value
Undisclosed
October 2012
İş Venture Capital has acquired
Shares of
Num Num Restaurants
Financial Advisor to Buyer
15,199,000 US$
HNG Float Glass
Financial Advisor to Buyer
Deal Value
Undisclosed
October 2012
Yılport Holding A.Ş. has
acquired 54% of the shares of
Financial Advisor to Buyer
61,150,000 US$
August 2012
İş Venture Capital
has sold
Richard Fritz Holding GmbH
Financial Advisor to Buyer
Has sold 100% shares to
Expanscience S.A.
Financial Advisor to Seller
Has acquired 100% of the
shares of Kraft Gıda San. ve
Tic. A.Ş
.
Financial Advisor
to Buyer
Deal Value
Undisclosed
4,000,000 US$
Deal Value
Undisclosed
June 2012
June 2012
March 2012
İş Venture Capital has acquired
shares of
Trakya Cam has acquired 90%
of the shares of
SABMiller Anadolu EFes
has bought
Toksöz Spor
Glass Corp.
Financial Advisor to Buyer
Financial Advisor to Buyer
Anadolu Efes shares at the
wholesale market.
Whosale Market Advisory
6.67% shares of
Havaş Ground Handling
Gemport
Financial Advisor to Seller
Deal Value
Undisclosed
Financial Advisor to Seller
15.230.000 €
22
Deal Value
Undisclosed
Deal Value
Undisclosed
1.9 billion US$
IS Investment Corporate Finance Mergers & Acquisitions Deal List (Part II)
February 2012
İş Venture Capital
has sold
Ode Yalıtım San. ve Tic. A.Ş.
(Insulation)
Financial Advisor to Seller
10,500,000 US$
November 2011
July 2011
August 2011
July 2011
June 2011
Serenas Group
has sold
NBK Capital has provided
mezzanine financing to
İş Venture Capital
has sold
İş Venture Capital
has sold
İş Venture Capital
has acquired 20% of the shares
of
Probil A.Ş.
Frik İlaç San ve Tic A.Ş.
Aras kargo A.Ş.
Financial Advisor to Seller
Financial Advisor to Seller
Financial Advisor to Seller
Financial Advisor to Buyer
4,000,000 US$
30,500,000 US$
10,800,000 US$
February 2011
January 2011
October 2010
70% of its shares to GL Events.
Financial Advisor to Seller
Deal Value
Undisclosed
May 2011
March 2011
Compass Group has acquired
100% of the shares of
Poliya has acquired resins
business of
Sofra Group A.Ş.
Financial Advisor to Seller
Cam Elyaf Sanayi A.Ş.
Financial Advisor to Seller
Deal Value
Undisclosed
Deal Value
Undisclosed
September 2010
September 2010
Anadolu Sigorta sold 35.53% of
its shares to
Investcorp acquired minority
shares in
Deal Value
Undisclosed
March 2011
CCI International Holland B.V.
has acquired 50% of the shares
of
Coca Cola Bottling of Iraq
Financial Advisor to Acquirer
36,900,000 US$
Odelo Group
Mopisan Motor Gömlek Piston
San. ve Tic. A.Ş.
Financial Advisor to Acquirer
Financial Advisor to Seller
Deal Value
Undisclosed
Deal Value
Undisclosed
August 2010
August 2010
May 2010
Asseco South Eastern Europe
has acquired
Privatization Administration
has sold
Trakya Elektrik Dağıtım A.Ş.
Privatization Administration
has sold
Bayburt, Çemişgezek and
Girlevik HEPP
. to Acquirer
Financial Advisor
Tiryaki Agro
.
Financial Advisor
to Seller
ITD İletişim Teknoloji
Danışmanlık Tic. A.Ş.
.
Financial Advisor
to Seller
172,222,222 US$
50,000,000 US$
14,110,000 US$
Milli Reasürans TAS
Bayraktarlar Holding A.Ş. has
acquired 100% of shares of
Mahle GmBH has acquired the
remaining 40% of the shares of
to
Aksa Elektrik Parakende Satış
A.Ş.Üretim A.Ş.
T.Şişe ve Cam Fabrikaları A.Ş.
sold 4,04% of its shares to
T. İş Bankası
.
Financial Advisor to Acquirer
77,741,166 US$
February 2010
Privatization Administration
has sold
Fırat Elektrik Dağıtım A.Ş
to
Aksa Elektrik Perakende Satış
A.Ş.
Financial Advisor to Acquirer
to
Boydak Elektrik Üretim A.Ş.
Financial Advisor to Acquirer
Financial Advisor to Acquirer
622,000,000 US$
29,050,000 US$
230,300,000 US$
23
IS Investment Corporate Finance Mergers & Acquisitions Deal List (Part III)
February 2010
Privatization Administration
has sold
Van Gölü Elektrik Dağıtım A.Ş
December 2009
December 2009
Binbir Gıda Tarım Ürünleri
Binbir Gıda Tarım Ürünleri
Ak-Al Tekstil
has acquired
Çamaltı Tuzlaları
belonging to
has acquired
Ayvalık Tuzlaları
belonging to
has acquired
Aksu İplik Dokuma ve Boya
Apre Fabrikaları T.A.Ş.
December 2009
to
Aksa Elektrik Perakende Satış
A.Ş.
November 2009
October 2009
Privatization Administration
has sold
Çoruh Elektrik Dağıtım A.Ş
İş Venture Capital
to
Aksa Elektrik Perakende Satış
A.Ş.
has acquired 6.67% share of
Havaş Ground Handling
Financial Advisor to Acquirer
Financial Advisor to Seller
Financial Advisor to Seller
Financial Advisor to Acquirer
Financial Advisor to Acquirer
Financial Advisor to Acquirer
100,100,000 US$
76,000,000 US$
6,000,000 US$
23,000,000 US$
227,000,000 US$
10,000,000 US$
October 2009
October 2009
November 2008
September 2008
İş REIT
Tiway Oil
has acquired
Paşabahçe Tuzla
Porcelain Factory
has acquired
Toreador Turkey
Financial Advisor to Acquirer
Financial Advisor to Seller
15,000,000 US$
11,000,000 US$
May2009
Privatization Administration has
sold Museums and Historical
Sites Ticketing Servies
to Bilkent Kültür Girişim
Financial Advisor to Acquirer
January 2009
Anadolu Efes Biracılık
ve Malt San.
İş Venture Capital
has acquired
Frik İlaç San. ve Tic. A.Ş.
FEM O.G.G
has acquired
Ayvalık Tuzlaları
belonging to
Financial Advisor to Acquirer
Financial Advisor to Acquirer
Financial Advisor to Seller
12,670,000 US$
13,358,325 US$
has acquired
Etap Tarım ve Gıda Ürünleri
Ambalaj San. ve Tic.
6,125,000 US$
June 2008
June 2008
June 2008
June 2008
June 2008
June 2008
Medtur Gıda – FEM O.G.G.
Falp Kongre Toplantı Hiz.
Otomotiv ve Turizm A.Ş.
has acquired
Beyaz Filo Oto Kiralama A.Ş.
(car fleet rental)
Coca Cola İçecek
Tarım Kredi Kooperatifleri
has sold
Turkey İş Bank
has sold
Anadolu Turizm İnşaat ve Tur.
A.Ş. (Port)
İş Venture Capital
has sold
Step Halıcılık ve Mağazacılık
A.Ş. (Textile)
has acquired
Coca Cola Beverages
Pakistan Ltd
to
Groupama
to
Nemtaş Nemrut Liman
İşletmeleri
to
Swicorp Co.
has acquired
Tekel Nargile & Tütün Markaları
and all related assets
belonging to
Financial Advisor to Seller
Financial Advisor to Seller
Financial Advisor to Acquirer
Financial Advisor to Seller
Financial Advisor to Seller
Financial Advisor to Seller
305,000 US$
8,750,000 US$
80,000,000 US$
280,000,000 US$
10,773,377 US$
6,750,000 US$
24
IS Investment Corporate Finance Mergers & Acquisitions Deal List (Part IV)
March 2008
Turkey İş Bank
has sold
ASMAŞ Ağır Sanayi Makinaları
February 2008
BC Partners
has acquired
February 2008
January2008
December 2007
December 2007
Privatization Administration
has sold
Tekel Tobacco
Mahle GmBH
has acquired
İş Venture Capital
has acquired
İş Venture Capital
has acquired
to
British American Tobacco
Mopisan Motor Gömlek Piston
San. ve Tic. A.Ş.
Turkmed Diyaliz ve Böbrek
Sağlığı Kurumları A.Ş.
Ortopro Tıbbi Aletler Sanayi ve
Ticaret A.Ş.
Financial Advisor to Seller
Financial Advisor to Seller
Migros Türk A.Ş.
to
Soda Sanayi A.Ş.
Purchase of Shares through a
Tender Call
Financial Advisor to Seller
Financial Advisor to Acquirer
9,753,035 US$
1,196,000,000 US$
1,720,000,000 US$
Deal Value
Undisclosed
November 2007
Financial Advisor to Acquirer
Financial Advisor to Acquirer
2,500,000 US$
6,000,000 US$
June2007
November 2007
November 2007
August 2007
June2007
Ada Metal Geri Dönüşüm Ltd.
has acquired
Kemer Group
has sold
Kemer Group
has sold
Danone
Şişecam A.Ş.
has sold
Ecomelt Alüminyum Geri Kazanım
Üretim ve Pazarlama A.Ş.
Port Kundu REIT
to
Dolphin Capital Investors Ltd
LaVanta REIT
to
Dolphin Capital Investors Ltd.
has acquired
Çağlar Su (Water)
Ferro Döküm Sanayi (Foundry)
to
Efesan Demir Çelik A.Ş.
to
Eczacıbaşı İlaç
Financial Advisor to Seller
Financial Advisor to Seller
Financial Advisor to Seller
Financial Advisor to Acquirer
Financial Advisor to Seller
Financial Advisor to Seller
Deal Value
Undisclosed
4,600,000 US$
3,500,000 US$
Deal Value
Undisclosed
82,000,000 US$
79,650,000 US$
İş REIT
has sold
Kanyon Ofis Merkezi
(Office Center)
May 2007
April 2007
February 2007
October 2006
August 2006
December 2005
İş Venture Capital
has acquired
Fiba Holding & Turkon Denizcilik
Consortium
has acquired
İş Venture Capital
has sold
İş Venture Capital
has acquired
İş Venture Capital
has sold
İş Venture Capital
has acquired
Ode Yalıtım San. ve Tic. A.Ş.
(Insulation)
Kumport Liman Hizmetleri
Lojistik San. A.Ş. (Port)
Tuyap Tüm Fuarcılık Yapım A.Ş.
to
Fuar Destek Hizmetleri A.Ş.
Beyaz Filo Oto Kiralama A.Ş.
(car fleet rental)
Mars Sinema Turizm ve Sportif
Tesisleri İşletmeciliği
to
Mars Entertainment Group A.Ş.
Financial Advisor to Seller
Financial Advisor to Seller
Financial Advisor to Seller
Financial Advisor to Acquirer
Financial Advisor to Seller
Financial Advisor to Acquirer
5,000,000 US$
250,588,500 US$
10,791,667 US$
4,000,000 US$
19,400,000 US$
6,933,767 US$
Tüyap Tüm Fuarcılık Yapım A.Ş.
25
IS Investment Corporate Finance Mergers & Acquisitions Deal List (Part V)
November 2005
November 2005
October 2005
October 2005
October 2005
August 2005
Privatization Administration
has sold
Privatization Administration
has sold
Coca Cola İçecek A.Ş.
has acquired
Privatization Administration
has sold
İş Bank
has sold
Privatization Administration
has sold
Yavşan Tuz İşletmesi (Salt
Pan)
to
Cihanbeyli Madencilik Makine
Kimya Joint Venture
Financial Advisor to Seller
Kayacık Tuz İşletmesi (Salt
Pan)
to
Özmutlu Mad. İnş. ve Tic. A.Ş.
– Birol Mutlu Joint Venture
Financial Advisor to Seller
İzmir Demir Çelik A.Ş.
to
Şahin Koç Çelik Sanayii A.Ş.
Cyprus Turkish Airlines
to
ADA Havacılık Ltd. (Ada Havacılık
ve Taşımacılık Joint Group)
37,300,000 US$
42,200,000 US$
Efes Sınai Yatırım Holding A.Ş.
Financial Advisor to Acquirer
Financial Advisor to Seller
Financial Advisor to Seller
Financial Advisor to Seller
255,000,000 US$
40,700,000 US$
79,050,000 US$
33,000,000 US$
July 2005
July 2005
Savings Deposit Insurance Fund
(SDIF)
has sold
Savings Deposit Insurance Fund
(SDIF)
has sold
Cinemaxx
belonging to Tepe Group
Netsel Tourism Investment Co.
to
Tek-Art Kalamış ve Fenerbahçe
Marmara Turizm Tesisleri A.Ş.
Netsel Tourism Investment Co.
to.
Toray İnşaat San. ve Tic.
has been sold to
Cinemars
Financial Advisor to Seller
12,000,000 US$
Financial Advisor to Seller
8,000,000 US$
Kaldırım Tuz İşletmesi (Salt Pan)
to
Koyuncu Nakliye Pazarlama ve
Ticaret A.Ş.
July 2005
Financial Advisor to Seller
13,600,000 US$
December 2004
November 2004
July 2004
Privatization Administration
has sold
Diyarbakır Pamuklu Sanayi
İşletmesi (textiles)
Privatization Administration
has sold
Çanakkale Sentetik Deri
İşletmesi (textiles)
İş Venture Capital
has acquired
to
M. Sait Dilek
to
İremsan Kağıtçılık Turizm
Sanayi ve Ticaret Ltd. Şti.
Step Halıcılık ve Mağazacılık
Sanayi ve Ticaret A.Ş. (textiles)
Financial Advisor to Seller
Financial Advisor to Seller
Financial Advisor to Acquirer
2,500,000 US$
2,100,000 US$
3,500,000 US$
February 2004
January 2004
December 2003
December 2003
May 2004
March 2004
Privatization Administration
has sold
Malatya Pamuklu Sanayi
İşletmesi (textiles)
Toros Tarımsal Üretim ve
Pazarlama A.Ş.
Privatization Administration
has sold
Adıyaman Pamuklu Sanayi
İşletmesi (textiles)
Privatization Administration
has sold
Privatization Administration
has sold
Privatization Administration
has sold
Tümosan Türk Motor Sanayi ve
Ticaret A.Ş. (tractor company)
to
Alçelik Yapı İnşaat A.Ş.
Financial Advisor to Seller
İstanbul Gübre Sanayi A.Ş.
(fertilizer)
to
Yıldız Entegre Ağaç
Financial Advisor to Seller
27,200,000 US$
100,500,000 US$
to
A-D Tekstil İşletmeleri Sanayi
ve Ticaret A.Ş.
Financial Advisor to Seller
has acquired
Sepeksa Mensucat ve Toprak
Mahsülleri Tic. ve San. A.Ş.
(textiles)
Financial Advisor to Acquirer
Financial Advisor to Seller
TEKEL Alkollü İçkiler
(alcoholic beverage)
to
Nurol-Limak-Özaltın-Tütsab
Consortium
Financial Advisor to Seller
6,400,000 US$
Undisclosed
1,450,000 US$
292,000,000 US$
to
MGG – Malatya Girişim Grubu
26
IS Investment Corporate Finance Mergers & Acquisitions Deal List (Part VI)
December 2003
December 2003
October 2003
July 2003
July 2003
May 2003
Privatization Administration
has sold
İş Venture Capital
has acquired
Privatization Administration
has sold
İş Venture Capital
has acquired
Privatization Administration
has sold
Privatization Administration
has sold
Sakarya Traktör Sanayi
İşletmesi
Gerkonsan Steel
to
Teknoteks Mühendislik İnşaat
Nevotek Bilişim Ses ve İletişim
Sistemleri San. ve Tic. A.Ş.
Çankırı Kaya Tuzu (Salt Pan)
to
Çankara Kaya Tuz San. ve Tic.
A.Ş.
Cinemars Cinema Chain
Taksan Machine Tool
to
HES Fiber Optik ve Elektronik
Financial Advisor to Seller
Financial Advisor to Acquirer
Financial Advisor to Seller
Financial Advisor to Acquirer
Financial Advisor to Seller
3,015,000 US$
3,000,000 US$
535,079 US$
5,000,000 US$
10,000,000 US$
December 2002
December 2002
October 2002
March 2002
November 2000
November 2000
İş Venture Capital
has acquired
Petrol Ofisi
İş Venture Capital
has acquired
TSKB (Industrial Development
Bank of Turkey)
Privatization Administration
has sold
TDI – Alanya Limanı (Port)
Privatization Administration
has sold
TDI – Çeşme Port
İletişim Teknoloji Dan. A.Ş.
has acquired
İş Doğan Petrol Yatırımları A.Ş.
(Holding)
Probil Bilgi İşlem Destek IT
has acquired
Sınai Investment Bank
Financial Advisor to Acquirer
Financial Advisor to Acquirer
to
Alanya Ticaret ve Sanayi Odası
Girişim Grubu
Financial Advisor to Seller
to
Çeşme Liman ve Turizm İşl.
OGG
Financial Advisor to Seller
215,000,000 US$
3,200,000 US$
Financial Advisor to Acquirer
1,850,000 US$
November 2000
November 2000
Financial Advisor to Acquirer
48,000,000 US$
July 2000
January 2000
Petrol Ofisi
Privatization Administration
has sold
TDI – Marmaris Port
Privatization Administration
has sold
TDI – Dikili Port
Privatization Administration
has sold
TDI – Kuşadası Port
to Dikili Liman ve Tur. İşl. OGG
and Ege Akdeniz Liman İşl. OGG
to
Limaş A.Ş.
has acquired
İş Doğan Petrol Yatırımları A.Ş.
(Holding)
Financial Advisor to Seller
Financial Advisor to Seller
Financial Advisor to Acquirer
5,200,000 US$
61,000,000 US$
1,050,000,000 US$
to
Marmaris Ortak Girişim Grubu
Financial Advisor to Seller
14,900,000 US$
1,600,000 US$
To
Sakarya 17 Ağustos OGG
2,300,000 US$
26,250,000 US$
27
IS Investment Corporate Finance International Block Sale & Advisory
500 MW HEPP
privatization in Georgia
Oltenia Electric
Company Privatization
Financial Advisor to Buyer
Advisory services to the
Uzbekistan Government
and Uzbekistan
Privatization
Administration
concerning the
privatization efforts in
the country
Advisory services to the
Mongolian Government
and Mongolian
Privatization
Administration
concerning the
privatization efforts in
the country
Financial Advisor to Buyer
Is Investment, through its London, Kazakhstan and Dubai offices, and cooperation through its numerous correspondent banks,
provides international advisory services
28
IS Investment Corporate Finance Private Sector Public Offerings (Part I)
29
2013
2010
2010
2010
2010
2007
Pegasus
DO&CO
Torunlar GYO
Akfen Holding
Koza Altın İşletmeleri
A.Ş.
Tekfen Holding
361,000,000 US$
90,475,969 US$
288,827,127 US$
65,068,638 US$
435,503,959 US$
490,754,087 US$
2007
2006
2006
2005
2005
2004
Selçuk Ecza
Vakıfbank
BİM
İş Girişim Yatırım
Ortaklığı
181,845,377 US$
1,269,091,122 US$
214,186,635 US$
21,640,157 US$
İş Yatırım
74,209,184 US$
Coca Cola İçecek A.Ş
318,308,697 US$
2004
2002
2002
2000
2000
2000
DESA
BJK A.Ş.
Atakule GYO
Alkim Kağıt
SANKO Pazarlama
AYEN Enerji
14,729,724 US$
14,018,515 US$
18,783,333 US$
69,003,485 US$
51,568,293 US$
13,634,851 US$
IS Investment Corporate Finance Private Sector Public Offerings (Part II)
30
2000
2000
2000
2000
2000
1999
Sınai Yatırım Bankası
Alkim Alkali Kimya
Anadolu Hayat
Soda Sanayii
İş Finansal Kiralama
İş GYO
22,464,455 US$
16,438,734 US$
69,342,579 US$
38,413,643 US$
15,000,034 US$
56,964,711 US$
1999
1996
1996
1993
1993
1993
Yatırım Finansman
Yatırım Ortaklığı
İş Yatırım Ortaklığı
Akın Tekstil
AKSU
Anadolu Sigorta
Koniteks
414,220 US$
7,889,769 US$
7,008,677 US$
17,000,000 US$
17,400,000 US$
400,000 US$
1992
1992
1991
1991
1991
1990
Hürriyet Gazetecilik
Alarko
ESBANK
Sun Elektronik
Lüks Kadife
Dışbank
7,000,000 US$
6,000,000 US$
16,100,000 US$
300,000 US$
1,600,000 US$
35,500,000 US$
IS Investment Corporate Finance Private Sector Public Offerings (Part III)
1990
1990
Aselsan
Trakya Cam
77,665,000 US$
81,000,000 US$
31
IS Investment Corporate Finance Privatization via Public Offering (Part I)
32
2007
2006
2004
2002
1994
1993
Halkbank
Türk Hava Yolları
Türk Hava Yolları
Petrol Ofisi
TOFAŞ Fabrika
NETAŞ
1,837,006,085 US$
209,000,000 US$
193,976,599 US$
168,274,560 US$
332,800,000 US$
8,720,000 US$
1991
1991
1991
1991
1991
Niğde Çimento
Ditaş Doğan
2,647,000 US$
219,000 US$
1993
GİMA
USAŞ Uçak Sanayi
TOFAŞ OTO
TOFAŞ Fabrikası
15,205,871 US$
1,000,000 US$
6,110,000 US$
1991
1991
1991
1991
1990
Petrol Ofisi
Migros
Adana Çimento
Afyon Çimento
Tüpraş
Petkim
14,386,000 US$
5,069,000 US$
27,958,000 US$
8,422,000 US$
6,036,000 US$
150,617,000 US$
1991
406,000 US$
IS Investment Corporate Finance Privatization via Public Offering (Part II)
33
1990
1990
1990
1990
1990
1990
Çelik Halat
Bolu Çimento
Türk Hava Yolları
Arçelik
Mardin Çiimento
Kepez Elektrik
7,750,000 US$
8,268,000 US$
4,976,165 US$
19,890,000 US$
9,161,000 US$
9,390,000 US$
1990
1990
1990
1990
1988
Çukurova Elektrik
Ünye Çimento
ERDEMİR
Konya Çimento
TELETAŞ
38,829,000 US$
927,000 US$
53,105,000 US$
17,663,000 US$
13,090,000 US$
IS Investment Corporate Finance Domestic Public Debt Issues (Part I)
2014
3 months term 4 tranch
4 months term 4 tranch
6 months term 3 tranch
7 months term 2 tranch
9 months term 2 tranch
12 months term 7 tranch
Total
TRY 7,157,674,886
July
2014
July
2014
Term: 3 years
Spread: 400 bps
Book: 3,7
Term: 2 years
Spread: 350 bps
Book: 6,4
Term: 2 years
Spread: 200 bps
Term: 1,6
Term: 2 years
Spread: 250 bps
Book: 1,0
TRY 25,000,000
TRY 100,000,000
TRY 100,000,000
TRY 30,000,000
April
2014
April
2014
TRY 25,000,000
July
2014
May
2014
May
2014
May
2014
Term 178 days
Spread : 250 bps
Book : 1,9
Term : 329 days
Spread : 100 bps
Book : 1,0
Term : 175 days
Spread : 65 bps
Book : 1,85
TRY 39,959,505
TRY 410,040,495
February
2014
February
2014
January
2014
Term: 2 years
Spread: 175 bps
Book: 1,0
Term: 174 days
Spread: 65 bps
Book: 2,2
TRY 30,000,000
March
2014
Term: 3 monts
Spread:200 bps
Book: 1,0
TRY 30,000,000
34
Term: 178 days
Spread: 90 bps
Book: 2,4
TRY 100,000,000
TRY 100,000,000
May
2014
Term: 2 years
Spread: 500 bps
Book: 1,5
TRY 50,000,000
TRY 150,000,000
June
2014
Term: 2 years
Spread: 200 bps
Book: 2,0
June
2014
Term: 3 monts
Spread:200 bps
Book: 1,5
Term: 2 years
Spread: 225 bps
Term: 3,0
TRY 100,000,000
TRY 100,000,000
January
2014
January
2014
Term: 179 days
Yield: %10,1
Book: 1,6
TRY 100,000,000
Term : 3 years
Spread : 325 bps
Book : 0,7
TRY 140,000,000
IS Investment Corporate Finance Domestic Public Debt Issues (Part II)
2013
3 months term 12 tranches
6 months term 12 tranches
12 months term 13 tranches
24 months term 1 tranch
Total
TRY 11,015,436,631
August
2013
December
2013
Term : 3 years
Spread : 500 bps
Book : 1,5
TRY 100,000,000
July
2013
Finansman Türk
A.Ş.
Term : 3 days
Spread : 300 bps
Book : 1,0
TRY 50,000,000
May
2013
Term : 3 years
Spread : 300 bps
Book : 4,0
TRY 100,000,000
Term : 2 days
Spread : 135 bps
Book : 1,0
TRY 75,000,000
March
2013
Term : 179 days
Spread : 80 bps
Book : 1,0
TRY 115,000,000
December
2013
Term 2 years
Spread : 400 bps
Book : 1,0
TRY 30,000,000
November
2013
November
2013
Term : 370 days
Spread : 115 bps
Book : 1,0
Term : 178 days
Spread : 85 bps
Book : 1,5
TRY 20,840,000
TRY 354,160,000
July
2013
June
2013
May
2013
Term : 3 days
Spread : 325 bps
Book : 1,0
Term : 18 months
Spread : 500 bps
Book : 1,0
Term : 2 years
Spread : 400 bps
Book : 3,2
TRY 175,000,000
TRY 3,800,000
TRY 100,000,000
March
2013
February
2013
January
2013
Term : 1 years
Yield : %7,1
Book : 1,3
Term : 2 years
Spread : 475 bps
Book: 1,0
Term : 2 years
Spread : 325 bps
Book : 1,2
TRY 125,000,000
TRY 15,000,000
TRY 25,000,000
35
October
2013
Term : 456 days
Spread : 225 bps
Book : 1,6
TRY 50,000,000
May
2013
Term : 2 years
Spread : 350 bps
Book : 1,0
TRY 30,000,000
January
2013
Term : 179 days
Spread : 80 bps
Book : 1,4
TRY 279,037,251
36
IS Investment and Corporate Finance
References
Attachments
Head of Corporate Finance
Murat Kural, Assistant General Manager, [email protected]
Murat Kural worked in various positions at Privatization Administration between 1986-1997
before joining İş Investment Securities in 1999. He has worked in many projects on
privatizaton, public offerings and mergers & acquisitions in different sectors. Mr Kural is
currently Assistant General Manager of İş Investment and also Head of Corporate Finance
Department.
Personal Information
Date of Birth 04.10.1964
Nationality Turkish
Profession Investment Banker
Foreign Language English
Certifications CMB Advanced Level License
Education
1997-1998 American University, PhD. Studies
1987-1989 Bilkent University, MBA
1983-1987 İTU, Electronics - Telecomunication Engineering
Work Experience
2002İş Investment Corporate Finance, Assistant General Manager
1999-2002 İş Investment Corporate Finance, Manager
1997-1999 Doğan Holding Business Development, Assistant Coordinator
1997-1998 World Bank Europe-Middle East Energy Union, Advisor
1992-1996 PA Project Coordinator
1990-1992 PA Associate
M&A Manager
Efsane Çam, Manager, [email protected]
Efsane Çam has worked on equity and bond offerings, mergers and acquisitions, private
sector and risk capital advisory. She has a wide range of experience and knowledge in her
profession and through her career which started at İş Bank, she has lead 11 privatization
projects, accomplished numerous public offerings including Coca Cola and BIM. She has
been working as manager responsible for merger and acquisition project since 2005, where
she has managed 40 closed deals.
Personal Information
Date of Birth 06.06.1970
Nationality Turkish
Profession Investment Banker
Foreign Language English
Certifications CMB Advanced Level License
Recent Projects
Ongoing Companies from Various Sectors, 12 Sell Side &
5 Buy Side Advisory
2013 HNG India, Trakya Cam Buy-Side Advisory
2013 Hakan Plastik, Georg Fisher, Sell-Side Advisory
2013 Kraft Gıda,Doğuş Çay Buy-Side Advisory
2012 Gemport, Nemtaş, Sell-Side Advisory
2012 Glasscorp, Trakya Cam, Buy-Side Advisory
2010 Tiryaki Agro, Sell Side Advisory
2009 Tepe Group, Museum Privatization
2009 Tepe Group, National Lottery Privatization
2008 Mahle Mopisan, Sell Side Advisory
2004-2008 PA, TEKEL
2007 Ferro Döküm, Sell Side Advisory
2007 Ode Yalıtım, Sell Side Advisory
2007 Danone Hayat, Buy Side Advisory
2005 Coca-Cola, Buy Side Advisory
Education
2008-2008 Bilgi University, MBA
1987-1991 Marmara University, Business Administration
Work Experience
2005İş Investment Corporate Finance, Manager
2000-2005 İş Investment Corporate Finance, Assistant Manager
1997-2000 İş Investment Corporate Finance, Vice President
1992-1997 İş Investment Corporate Finance, Senior Associate
Capital Markets Manager
Mete Gorbon, Manager, [email protected]
Mete Gorbon is the manager responsible for Capital Market transactions. He worked in CocaCola İçecek’s acquisition of Efes Sınai Yatırım Holding, initial public offering and merger with
Efes Sınai. In additon to various M&A projects, he has experience in forming real estate
investment funds (REIT) projects. He has worked in Akfen Holding’s IPO and corporate
bond offering and IPOs of Koza Altın, Halkbank and İş Investment.
Personal Information
Birth Date 10.01.1974
Nationality Turkish
Profession Investment Banker
Foreign Language English
Certifications CMB Advanced Level License
Recent Projects
2010 Torunlar GYO, Akfen Holding, Koza Altın, IPO
2010 Akfen Holding, Corporate Bond Public Offering
2010 Technology Company, Sell Side Advisory
2009 Metis A.Ş., Sell Side Advisory
2008 Torunlar GYO, REIT Advisory
2008 Güven Sigorta, Sell Side Advisory
2008 Atakule GYO, Buy Side Advisory
2007 Kanyon Shopping Mall and Office, Sell Side
Advisory
2007 İş Investment, Halkbank, IPO
2006 Galatasaray Football,Sportif, M&A Advisory
2006 Coca-Cola İçecek, IPO, M&A Advisory
Education
1994-1996 Cornell University, MBA
1990-1994 Boğaziçi Üniversity, BSc, Computer Engineering
Work Experience
2010İş Investment Corporate Finance, Manager
2005-2009 İş Investment Corporate Finance, Assistant Manager
2004-2005 İş Investment Corporate Finance, Vice President
2002-2004 İş Investment Corporate Finance, Senior Associate
1998-2002 Arthur Andersen Management Consulting, Senior Consultant
ECM Manager
40
Reha Pamir, Manager, [email protected]
Reha Pamir is actively involved in projects in energy, construction and mining sectors as the
Manager in charge. He is currently leading various M&A and privatization projects for sell
side and buy side companies. He had acted as expert in 4 international arbitration cases
regarding electricity distribution and generation TOR projects filed against the Ministry of
Energy and Natural Resources. Reha Pamir’s privatisation and energy markets experience
adds up to 2 billion USD and 3.6 billion USD in deal value, respectively. Before joining İş
Investment, Reha Pamir worked in different positions in business development in the energy
sector and his total working experience is 18 years.
Personel Information
Date of Birth 07.06.1972
Nationality Republic of Turkey
Profession Investment Banker
Foreign Language English
Certification CMB Advanced Level License
Recent Projects
Ongoing Renewables Company, Sell Side Advisory
Ongoing Baskentgas Privatisation, Buy Side Advisory
2012 Kümaş Magnesite Privatization, Buy Side Advisory
2011 Fuel Dist. Company., Buy Side Advisory
2010 EÜAŞ 52 River Type HEPP Privat. Buy Side Advisory
2009-2011 11 different electricity distribution
privatization projects, Buy Side Advisory
2009 Toreador, Sell Side Advisory
2009-2004 4 International Arbitration Cases, Expert
2008 ADÜAŞ Power Plants Privat., Buy Side Advisory
2007 IPO of Tekfen Holding
2005 Seydişehir Aluminium and Oymapınar HEPP
Privatization, Buy Side Advisory
Education
1995-1997 Middle East Technical University, MBA
1994-1997 Middle East Technical University, Petroleum and Natural Gas
Engineering; MSc.
1990-1994 Middle East Technical University, Petroleum and Natural Gas
Engineering
Work Experience
2010- İş Investment Corporate Finance, Manager
2005-2010 İş Investment Corporate Finance, Assistant Manager
2002-2005 İş Investment Corporate Finance, Vice President
2000-2002 Süzer Holding Business Development, Assistant Manager
1999-2000 Bayındır Holding Energy Sector, Senior Associate
1998-1999 Bayındır Holding Energy Sector, Associate
1995-1998 METU Research Assistant
HTS Manager
Kaan Kırtay, Manager, [email protected]
Kaan Kırtay is specialized in projects on Strategic Planning, Competitor Evaluation, Local and
International Business and Market Plans, Sell Side and Buy Side Advisory, Privatizations and
Public Offerings. Kaan Kırtay has worked for Arthur Andersen Business Consulting between
2000 and 2002 before he has joined Is Investment, he was engaged in many M&A projects,
Privatizations and Public Offerings. Currently, he is the responsible manager for Healthcare,
Tourism, Transportation Services Industry.
Personal Information
Date of Birth 15.12.1975
Nationality Turkish
Profession Investment Banker
Foreign Language English
Certifications CMB Advanced Level License
Education
1998-2000 Bilkent University, MBA
1994-1998 Middle East Technical University, BSc, Civil Engineering
Recent Projects
Ongoing 1 Buy Side, 1 Sell Side, 1 PO, 1 Privatization
2010 DO & CO – Public Offering of Foreing Listed Company
2010 İskenderun Port – Privatization Buy Side Advisory
2009 Domestic Holding CO – Logistics Buy Side Adv.
2008 Bandırma Port – Privatization Buy Side Advisory
2008 Fleet Leasing– Sell Side Advisory
2007 Cargo Company – Sell Side Advisory
2007 Orsem Ortopro – Buy Side Advisory
2006 THY – Public Offering
2006 Başak Insurance – Privatization Buy Side Advisory
2005 Kumport Container Port – Sell Side Advisory
2005 Erdemir Iron&Steel Co – Buy Side Advisory
2005 İzmir Iron&Steel Co – Sell Side Advisory
2005 IDC Port – Spin off and Sell Side Advisory
Mesleki Deneyim
2010 İş Investment Corporate Finance, Manager
2008 -2010 İş Investment Corporate Finance, Assistant Manager
2005- 2008 İş Investment Corporate Finance, Vice President
2002-2005 İş Investment Corporate Finance, Senior Associate
2000-2002 Arthur Andersen Business Consulting Business Consultant
FI, TMT and Basic Industries Manager
Burak Ayken, Manager, [email protected]
Burak Ayken has joined İş Investment in 2006. He has worked intensely in project related
to financial institutions, technology and media companies and real estate. Ayken, has
actively worked in numerous M&A and Capital Market projects with total size of equity
transactions exceeding 4 bn. US$. Ayken currently works as Assistant Manager
responsible from Financial Institutions and Technology, Media and Telecommunications
(“TMT”) industry team
Personal Information
Birth Date 14.11.1981
Nationality Turkish
Profession Investment Banker
Foreign Language English
Certifications CMB Advanced Level License
Recent Projects
Ongoing Consumer Finance Company, 5 Star Business
Hotel and Prime Located Shopping Mall, Sell-Side
Advisory
2013 Bank Pozitif, BankAsya, Creditwest Bond Issues
2013 Evim.net, Sell-Side Advisory
2012 ING Bank, İş Leasing, Abank, Bond Issues
2011 İş Bankası, Rönesans Gayrimenkul, Bond Issues
2010 ITD Technologies, Sell-side Advisory
2010 Bank Pozitif, Creditwest Faktoring, Bond Issues
2010 Torunlar REIT, Public Offering
2010 City Hotel Chain, Sell-Side Advisory
2008 Güven Insurance, Sell-Side Advisory
2008 Atakule REIT, Buy-Side Advisory
2007 İş Investment – Public Offering
2007 Halkbank– Public Offering
Education
1999-2003 Boğaziçi Üniversity, BSc, Economics
Work Experience
2011İş Investment Corporate Finance, Assistant Manager
2009-2011 İş Investment Corporate Finance, Vice President
2006-2009 İş Investment Corporate Finance, Senior Associate
2005-2006 PriceWaterhouseCoopers., Corporate Finance, Senior Associate
2003-2005 PriceWaterhouseCoopers., Audit, Senior Associate
FMCG Manager
Selim Onur Yalın, SMMM, Manager, [email protected]
Selim Onur Yalın joined Is Yatirim in 2007 and he has participated in a number of projects.
Onur has advised a number large scale customers including Coca-Cola and Tiryaki Agro in
their M&A activities. Prior to Is Yatirim, Onur has participated in the audit of a number of
companies
in
the
pharmaceutical,
automotive
and
consumer
sectors
at
PricewaterhouseCoopers and thus has gained important expertise in the accounting and
reporting standards. Onur is a Certified Public Accountant.
Personal İnformation
Date of Birth10.01.1977
Nationality Turkish
Profession Investment Banker
Foreign Language English
Certifications Certfified Public Accountant, CMB Advanced Level License,
CMB Derivatives License, CMB Corporate Governance
Recent Projects
Education
2005-2007 North Carolina State University, MBA
1995-2000 Boğaziçi University, Business Administration
Ongoing Buy-Side (2) & Sell-Side (5) Advisory
2013
2011
2011
2010
2008
2008
2008
Doğuş Çay, Buy-Side Advisory
Coca-Cola İçecek A.Ş., Buy-Side Advisory
STFA, Sell-Side Advisory
Tiryaki Agro, Sell-Side Advisory
Anadolu Efes, Buy-Side Advisory
Coca-Cola İçecek A.Ş., Buy-Side Advisory
Coca-Cola İçecek A.Ş., Buy-Side Advisory
Work Experience
2007İş Investment Corporate Finance, Vice President
2005-2005 Marks & Spencer Finance Department, Financial Controller
2000-2004 PwC Assurance and Business Advisory Services, Assistant Manager