Investment banking arm of Qatar's Barwa scours Turkey for deals -acting CEO

Kiler Gayrimenkul Yatirim Ortakligi A S

01/03/2016 15:13

By Ceyda Caglayan 
    ISTANBUL, March 1 (Reuters) - The investment banking arm of 
Qatar's Barwa Bank  IPO-BABK.QA  is looking for investments in 
Turkey, in sectors ranging from real estate to food, and could 
spend more than $150 million per deal, its acting chief 
executive said on Tuesday. 
    "Considering its growth potential, stability, strong 
regulations and corporate governance, we are looking to invest 
in Turkey," Yousef Al Obaidan, acting head of the investment 
banking arm, The First Investor (TFI), told Reuters in an 
interview in Istanbul.  
    "We're talking to many companies and having negotiations." 
    TFI has not specified a budget for Turkey, although its 
existing holdings in the Gulf region average around $100-$150 
million per investment, Al Obaidan said. Individual investments 
in Turkey could exceed that, he said. 
    The bank, which is also involved in private equity and asset 
management, is particularly interested in Turkey's real estate, 
healthcare, education and food and beverage industries, Al 
Obaidan said.  
    While investor confidence in Turkey has been shaken by 
concerns about the independence of its central bank and violence 
in the mainly Kurdish southeast, it has a young, fast-growing 
population, making it particularly attractive to investors in 
consumption-driven sectors. 
    Last year, Japanese drinks firm Dydo Drinco  2590.T  spent 
$110 million to acquire three Turkish beverages makers, in a 
deal it said was a long-term bet on the Turkish consumer. 
    Turkey's population is expected to rise to more than 93 
million by 2050 from over 76 million in 2013, according to 
government statistics. The median age is just over 30, lower 
than anywhere in Europe. 
    TFI has a total of $400-$500 million invested in Saudi 
Arabia, Bahrain and the United Kingdom, Al Obaidan said.  
    In the United States, it exited a $800 million development 
project two years ago and is now looking to invest again in real 
estate, he said. 
    It is already active in Turkey, where Kiler  KLGYO.IS , a 
real estate investment trust (REIT), mandated it in December for 
the sale of the Istanbul Sapphire shopping centre and residence. 
    There is "strong interest" from international investors in 
that sale, Al Obaidan said. 
    TFI parent Barwa is 53 percent owned by the Qatari 
government through Qatari Holding LLC and other government 
funds. Barwa has been expected to list on the Qatar stock 
exchange for the past few years but no date has been set. 
 
 (Editing by David Dolan and Susan Fenton) 
 ((david.dolan@tr.com; +90 212 350 7046; Reuters Messaging: 
david.dolan.thomsonreuters.com@reuters.net)) 
 
Keywords: BARWA BANK TURKEY/