Turkey is having its best year for takeovers since 2008,recording better growth than any of the largest emerging markets asEurope's fastest expanding economy lures buyers from Diageo Plc. toGoldman Sachs Group Inc.

The value of transactions involving Turkish targets hasincreased 59 percent annually to $8.8 billion, the highest levelsince Lehman Brothers Holdings Inc. failed in September 2008,according to data compiled by Bloomberg. Deals dropped this year inBrazil, India and China, while mergers and acquisitions grew 50percent in Russia, the data show.

Turkey's $735 billion economy grew 8.8 percent in the secondquarter, faster than India's and more than four times the eurozone's expansion, as credit growth spurred consumer demand. Thecentral bank has taken the most aggressive steps in emergingmarkets this year to guard the economy against a global slowdown,cutting interest rates three times since December while borrowingcosts rose in the so-called BRIC nations.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.