IS Investment Corporate Finance September 2014
1 IS Investment and Corporate Finance References Attachments
IS Investment İş Bank Group Leader Position With a hisry of more than 80 years and US$ 103.3 billion asset size, İş Bank is Turkey s largest private bank. Worldwide Branch Network 2 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 Numbers 1 Assets US$ 103.3 bn RUSSIA CJSC ISBANK 12 BRANCHES 1 Deposit US$ 58.9 bn 1 Branch Network More than 1,300 1 Loans US$ 65.3 bn KOSOVO 2 BRANCHES BULGARIA ISBANK AG 1 BRANCH Source: Public Disclosure and İş Bank Invesr Relations Presentation (June 2014) TURKEY 1,317 BRANCHES U.K. LONDON 2 BRANCH FRANCE PARIS ISBANK GMBH AG 1 BRANCH NORTHERN CYPRUS 15 BRANCHES GEORGIA 2 BRANCH IRAQ 2 BRANCHES
IS Investment İş Bank Group Structure and Participations Shareholder Structure Main Business Lines of İş Bank Group 3 There are around 250,000 domestic and foreign shareholders. 75% of the free float is held by foreign invesrs. Scks are quoted on ISE and also traded on LSE in the form of GDR (Global Deposiry Receipt). Financial Participations 18 Companies Secr 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 Free Float %32 Atatürk Shares %28 İş Bank Pension Fund %40 Private Equity İş Private Equity ISGSY.IS: 77 mn$ Leasing İş Leasing ISFIN.IS: 203 mn$ Facring İş Facring REIT İş REIT ISGYO.IS: 427 mn$ Non-Financial Participations 14 Companies Secr Company Name Market Capitalization (As of 12.12.2013) Banking Services Glass Telecommunications Şişecam AVEA SISE.IS: Market Cap:2,283 mn$ Corporate Banking Retail Banking Private Banking Capital Markets Project Finance Other Banking Services 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 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 2 nd quarter of 2014 IS Investment s market share among Brokerage Agencies is : 7.7% in Sck Market, 11.2% in Derivatives, 7.1% in Corporate Bonds Market among other Equity Houses. IS Investment has the leader position in the sck market and derivates and is in fourth place in the corporate bonds market. No Numbers Shares In May 2007, IS Investment (ISMEN.IS) went public itself as the first investment banking institution be traded on the ISE. İş Asset Management: (Share: 70%) Turkey s leading Portfolio Management Company managing İş Group funds İş Investment Trust (Share: 28.9%) Turkey s leading Investment Trust İş Private Equity: (Share: 29.1%) Turkey s largest Private Equity 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 Fitch Ratings National Long Term Rating: AA+(tur) Market Capitalization*: US$ 191 mn * As of August 26, 2014 İş Bank & İş Bank Group Companies %71 Free Float %29 * As of August 26, 2014
IS Investment Activities Services Widespread Invesrs Portfolio 5 Corporate Finance Public Offerings Mergers & Acquisitions Project Finance Asset Management Discretionary Portfolio Management Mutual Funds Management Private Funds Management Investment Advisory Individual Clients Corporate Clients Institutional Sales Research Macroeconomy Secr Research Company Analysis Brokerage & Trading TL/FX Scks TL/FX Treasury Bond/ Government Bond TL/FX Private Secr Bonds TL/FX Derivatives Privatization Advisory Strategic Planning Private Equity Fixed Income Securities Analysis Strategy Reports and Presentations Others; 78% İş Group Funds; 22% 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 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. 2011 Best Broker in Turkey 2011 Financial Adviser of the Year 2010,2011,2012 and 2013 Best Investment Bank in Turkey 2009 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
Trading Volume (bn TL) Market Share(%) IS Investment Strong Research and Sales Team Leader Investment Bank in Organized Markets Widespread Distribution Network 6 160 140 120 100 80 60 40 20 0 1 2 Scks Derivatives Bonds-Market Share 1 1 1 3 1 2 1 1 2 1 1 Bonds Scks-Market Share Derivatives-Market Share 2006 2007 2008 2009 2010 2011 2012 2013 2014/6 Source: Borsa Istanbul, TDE 1 1 1 IS Investment is the leader in capital markets with its strong research team, wide distribution network and corporate finance experience 3 1 1 3 1 1 5 1 1 4 1 30% 25% 20% 15% 10% 5% 0% İş Bank Branches: More than 1,200 domestic branches and approximately 3,000 ATMs GSM Banking: Mobile Bank Branches NetMatik: Interactive banking for credit cards and all transactions with free of charge under a developed system. Call Center ve Interactive Telephone: Free of charge Interactive telephone banking service Wide Range of Products Daily Market Watch Internation al Markets Internet: Convenient transactions from İş Bank and IS Investment websites Macroeconomic Reports Company Reports Week Ahead Money & Capital Markets Secr Reports Portfolio Recomme ndations Strategy Reports on Scks & Fixed Income Securities Special Research for Institutional Invesrs All reports are prepared in English and Turkish and the database is open for access all users on our internet web-site.
IS Investment Leading Institution in International Markets Trading Volume in International Markets Leading Institution in International Markets 7 Million $ 30.000 25.000 2,060 1.179 1400 1200 TURKISH REPUBLIC 2036-Eurobond issue Co-Leader TURKISH REPUBLIC 2025 - Eurobond issue Co-Leader TURKISH REPUBLIC 2014 - Eurobond issue Co-Leader PETROL OFİSİ 2009-Eurobond issue Co-Leader 1.025 1000 20.000 2,640 865 800 15.000 707 698 600 10.000 391 400 551 363 5.000 3,147 2,904 18,145 200 71 885 26,773 2,733 9491103 517 882 780 605 779 448 316 0 0 2006 2007 2008 2009 2010 2011 2012 2013 2014/6 International FIS International Equity # Der. Contracts (Right Axis) Thousands 1,500,000,000 $ INTERGAS FINANCE 2011 - Eurobond issue Co-Leader 250,000,000 $ BANK POZİTİF 2012 - Eurobond issue Co-Leader 2,000,000,000 $ FİNANSBANK RUSSIA 2008 - Eurobond issue Co-Leader 150,000,000 $ AK BARS BANK 2010Eurobond issue Co-Leader 1,250,000,000 $ GLOBAL YATIRIM HOLDING 2012 - Eurobond issue Co-Leader 100,000,000 $ 175,000,000 $ ALLIANCE BANK 2010 - Eurobond issue Co-Leader 200,000,000 $ 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 grow in international markets through Maxis Securities an FSA licenced subsidiary in London and Almaty Dubai Representative Office. 150,000,000 $ 250,000,000 $
IS Investment Corporate Finance Team Structure 8 The Largest Corporate Finance Department in Turkish Investment Banking with 29 Employees 152 Deals 25.1 bn $ 117 Deals 10.9 bn $ Consumer Goods 25 Deals 5.7 bn$ Technology, Media, Communication 11 Deals 103 mn$ Energy, Construction, Mining 21 Deals 4.1 bn$ PUBLIC OFFERINGS MERGERS & ACQUISITIONS CORPORATE BOND PUBLIC OFFERINGS PRIVATE SECTOR ADVISORY PROJECT FINANCE ADVISORY PRIVATE EQUITY ADVISORY 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 Basic Industries 45 Deals 1.3 bn$ Health, Tourism, Services 33 Deals 1.4 bn$ Financial Institutions 130 Deals 22.2 bn$
IS Investment Global Outreach & Cooperation 9 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
TL (billion) IS Investment Equity Public Offerings 10 Equity POs Quantity 1990-2014/06 1997-2014/06 67 29 Privatizations & Private Secr Equity POs 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 Yatırım* 37 Garanti Yatırım** 31 Global Menkul İş Yatırım 15 Global Menkul 13 Garanti Yatırım İş Investment has served in 38 private secr public offerings as Lead Manager since 1990-2013/12 including DO & CO Offering which is the first foreign company became listed in Turkey *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 8.9 İş Yatırım 5.2 Finans Yatırım 4.5 Garanti Yatırım 1.7 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 competirs.
IS Investment Corporate Bond Public Offerings 11 Corporate Bond Public Offerings* Quantity Private Secr Corporate Bond Public Offerings 50 45 40 35 30 25 20 15 10 5 0 45 İş Yatırım Garanti Yatırım 24 24 24 24 Ak Yatırım Deniz Yatırım Aktif Yatırım 17 16 Finans Yatırım Asya Yatırım Corporate Bond Public Offerings* Size 9 8 Vakıf Yatırım Yapı Kredi Yatırım 6 Ziraat Yatırım *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 İş Yatırım Garanti Yatırım 4.175 Yapı Kredi Yatırım 3.080 2.851 2.676 Ak Yatırım Finans Yatırım Vakıf Yatırım 1.941 1.878 Deniz Yatırım Ziraat Yatırım 1.047 Halk Yatırım 2.628 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. Source: Borsa İstanbul
IS Investment Corporate Finance Mergers & Acquisitions IS Investment M&A Transactions (2002-2013/12) Leader in M&A Transactions 12 3.500 3.000 2.500 Deal Value (mn $) Number of Deals 14 12 10 Since 2000, IS Investment has closed 109 M&A transactions that were worth more than US$ 10 bn. 20% of the transactions were cross-border deals Among M&A services; Project Screening and Targeting 2.000 8 Mergers 1.500 6 Acquisitions 1.000 4 Asset Sales 500 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2 0 Joint Ventures Project Finance Mandary Calls Source: Mergermarket Source: Mergermarket By Value (01.2008-12.2013) # Company Mn$ No. of Deals 1 Raiffiesen Centrobank 17.117 34 2 Goldman Sachs 15.603 17 3 JP Morgan 14.637 12. 6 İş Yatırım 8.504 43 By Transaction Numbers (01.2013-31.12.2013) # Company Mn$ Adet 1 IS Investment Securities 550 11 2 Raiffeisen Centrobank 5.135 10 3 PwC 615 7 Pragma Corporate 4 Finance 184 6 5 Goldman Sachs 1,156 5 Iş Investment completed 11 transactions across the whole board of secrs and specifications in 2013 2 Consumer Goods, 5 Basic Industries, 1 Telecom-Media- Technology, 1 Energy-Constructions- Mining, 2 Health-Tourism-Services deals were completed 8 deals were cross border, 3 were Turkey outbound, 3 were PE oriented; in tal 6 sell-side and 5 buy-side advisory projects. According 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 Best Investment Bank Award 13 In 2009 IS Investment was awarded by Euromoney Magazine with Turkey s Best M&A House. Despite the financial crisis, IS Investment managed complete successful deals in 2009 from various secrs. IS Investment has also won Best M&A House in Turkey award in 2007& 2008. 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 Financial Adviser of the Year Germany Iberia Israel Turkey Russia Middle East& North Africa Goldman Sachs Credit Suisse Goldman Sachs IS Investment Goldman Sachs HSBC Bank Mergermarket, the most prestigious and respected data collecr in the secr, 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 IS Investment, a local investment bank.
IS Investment Corporate Finance Privatizations 15 Block Sale Sell Side Advisor 29 Projects US$ 2.7 bn Between 2000-2013/12, IS Investment worked on 29 sell side advisory mandates that were worth US$2.7 billion. Block Sale Buy Side Advisor 38 Projects US$ 1.2 bn Between 2000-2013/12, IS Investment worked on 38 buy side advisory mandates and completed 5 transactions that were worth US$1.2 billion. IS Investment is currently working on 2 buy side mandates. IPO Consortium Leader 4 Projects US$ 2.5 bn 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 AYVALIK TUZ SALTPAN December 2009 ÇAMALTI SALTPAN 2008 TEKEL TOBACCO 2007 HALKBANK Privatization via Public Offering 2005 YAVŞAN, KAYACIK, KALDIRIM SALTPANS 2005 CYPRUS TURKISH AIRLINES 2004 İSTANBUL FERTILIZER COMPANY 6,000,000 $ 76,000,000 $ 1,720,000,000 $ 1,800,000,000 $ 120,000,000 $ 33,000,000 $ 100,500,000 $ 2003 TEKEL ALCOHOLIC DRINKS 2003 GERKONSAN 2003 TAKSAN 2003 SAKARYA TRAKTÖR SANAYİ 2000 TDİ- ALANYA AND ÇEŞME PORTS 2000 TDİ- DİKİLİ AND KUŞADASI PORTS 2000 TDİ- MARMARİS PORT 292,000,000 $ 3,015,000 $ 10,000,000 $ 2,300,000 $ 27,850,000 $ 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 Local Invesr 2012 Local Invesr 2011 Local Invesr 2011 Local Invesr 2011 Local Invesr 2010 Aksa Group 2010 Local Invesr 2010 Boydak Holding 2010 Aksa Group 2010 Aksa Group Başkent Natural Gas Distribution KÜMAŞ Magnesite Sugar Facries Portfolio B Sugar Facries Portfolio C İstanbul Seabuses and Fast Ferries Toroslar Electricity Distribution Akdeniz and AYEDAŞ Electricity Distribution EUAS Run-off River Power Plant Portfolios Trakya, Boğaziçi Electricity Distribution Çamlıbel, Uludağ and Fırat Electricity Distribution 2009 Aksa Group Çoruh, Osmangazi, Yeşilırmak Electricity Distribution 2009 Bilkent Kültür Gelişim Museums 2009 Local Invesr National Lottery 2008 Local Group ADÜAŞ Power Plants 2008 Torunlar Gıda Bandırma Port 2008 Local Group Derince Port 2007 Local Consortium Petkim Petrochemical 2006 International Company Electricity Distribution 2006 Doğuş Çay Sugar Facries 2006 International Company Erdemir 2005 2005 2005 2005 2005 2004 2004 2002 Kuwait Company Tüpraş Assan Demir ve Sac Sanayi Seydişehir/ Oymapınar Aliminium Plant Anadolu Ins. & Anadolu Pens. Fund Başak Life Ins& Pension Fund Kazancı Holding Samsun Fertilizer Facry Local Company Mersin Port 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 Secr Advisory 18 Strategy Development Economic Feasibility Evaluation Identification of Investment & Financial Needs Contacting Invesrs Strategic Planning Business Plan Identification of Financing Needs Contacting Financial Institutions Portfolio Strategy Financial Valuation Presentations & Negotiations Restructuring Feasibility Analysis Selected Secr 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 secr advisory services for its clientele operating in various fields.
IS Investment Corporate Finance Project Finance and Private Equity Advisory Project Finance References Private Equity Deals in Turkey 19 2010 ÇORUH ELECTRICITY DISTRIBUTION 2010 FIRAT ELECTRICITY DISTRIBUTION $145,000,000 $140,000,000 2005 KAYSERİ ŞEKER FABRİKASI A.Ş. 124,500,000 2007 ODE YALITIM SANAYİ VE TİCARET A.Ş. 19,000,000 2008 82 Katkı MW HYDROPO WER PROJECT $45,000,000 5.000 4.500 4.000 3.500 3.000 2.500 2.000 1.500 1.000 500 0 4.287 39 2.978 28 1.600 1.211 18 17 4 3 6 245 34 8 21 458 4.701 44 31 803 29 998 50 45 40 35 30 25 20 15 10 5 0 Ongoing Project Finance Projects Deal Volume (mn $) Total Deal Number Source: Dealwatch Private Equity Advisory Transactions Acquisition finance in the energy distribution secr Up US$200 million acquisition finance for a privatization in the FMCG secr Acquisition finance in the construction secr Basic Industries Financial 1 Institutions 2 Consumer Goods 5 Health, Tourism & Services 7 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 21 BLUE SQUARE REAL ESTATE IS Investment boasts a portfolio of clients from many countries and continues add its network.
IS Investment Corporate Finance Mergers & Acquisitions Deal List (Part I) 22 August 2014 March 2014 August 2013 August 2013 July 2013 July 2013 Söktaş Mermerler Group Nisan Enerji Aksa Akrilik OZN Elektronik Ticaret İş Venture Capital 100% shares Tat Gıda Acquired 100% shares of Ant Gıda A.Ş. Has sold 50% of shares Boydak Enerji 40% of the shares of Ak-Tops Financial Advisor Buyer Has sold 37% shares EBRD, 212 Capital Ventures and Simile Ventures 25% shares Oesterreichische Post AG 32,000,000 TL Undisclosed 43,200,00 11,000,000 US $ 5,000,000 US$ 65,000,000 US$ July 2013 Hakan Plastik June 2013 Seramiksan June 2013 Trakya Cam has entered a JV with May 2013 Trakya Cam Has acquired 100% of May 2013 Dharma İlaç April 2013 Doğuş Çay A.Ş. Has acquired 50% shares of Has sold majority shares Georg Fischer Piping Systems Ltd. Deal Value Undisclosed Financial Advisor Buyer Deal Value Undisclosed HNG Float Glass Financial Advisor Buyer 61,150,000 US$ Richard Fritz Holding GmbH Financial Advisor Buyer 4,000,000 US$ Has sold 100% shares Expanscience S.A. Deal Value Undisclosed Has acquired 100% of the shares of Kraft Gıda San. ve Tic. A.Ş. Financial Advisor Buyer Deal Value Undisclosed Ocber 2012 İş Venture Capital Shares of Ocber 2012 Yılport Holding A.Ş. has acquired 54% of the shares of August 2012 İş Venture Capital June 2012 İş Venture Capital shares of June 2012 Trakya Cam 90% of the shares of March 2012 SABMiller Anadolu EFes has bought 6.67% shares of Num Num Restaurants Havaş Ground Handling Gemport Toksöz Spor Financial Advisor Buyer Financial Advisor Buyer 15,199,000 US$ Deal Value 15.230.000 Deal Value Undisclosed Undisclosed Glass Corp. Financial Advisor Buyer Deal Value Undisclosed Anadolu Efes shares at the wholesale market. Whosale Market Advisory 1.9 billion US$
IS Investment Corporate Finance Mergers & Acquisitions Deal List (Part II) 23 February 2012 November 2011 July 2011 August 2011 July 2011 June 2011 İş Venture Capital Serenas Group NBK Capital has provided mezzanine financing İş Venture Capital İş Venture Capital İş Venture Capital 20% of the shares of Ode Yalıtım San. ve Tic. A.Ş. (Insulation) 70% of its shares GL Events. Probil A.Ş. Frik İlaç San ve Tic A.Ş. Aras kargo A.Ş. Financial Advisor Buyer 10,500,000 US$ Deal Value Undisclosed Deal Value Undisclosed 4,000,000 US$ 30,500,000 US$ 10,800,000 US$ May 2011 March 2011 March 2011 February 2011 January 2011 Ocber 2010 Compass Group 100% of the shares of Poliya resins business of CCI International Holland B.V. 50% of the shares of Bayraktarlar Holding A.Ş. has acquired 100% of shares of Mahle GmBH the remaining 40% of the shares of T.Şişe ve Cam Fabrikaları A.Ş. sold 4,04% of its shares Sofra Group A.Ş. Deal Value Undisclosed Cam Elyaf Sanayi A.Ş. Deal Value Undisclosed Coca Cola Bottling of Iraq Financial Advisor Acquirer 36,900,000 US$ Odelo Group Financial Advisor Acquirer Deal Value Undisclosed Mopisan Mor Gömlek Pisn San. ve Tic. A.Ş. Deal Value Undisclosed T. İş Bankası. Financial Advisor Acquirer 77,741,166 US$ September 2010 September 2010 August 2010 August 2010 May 2010 February 2010 Anadolu Sigorta sold 35.53% of its shares Investcorp acquired minority shares in Asseco South Eastern Europe Trakya Elektrik Dağıtım A.Ş. Bayburt, Çemişgezek and Girlevik HEPP Fırat Elektrik Dağıtım A.Ş Milli Reasürans TAS Financial Advisor. Acquirer Tiryaki Agro. ITD İletişim Teknoloji Danışmanlık Tic. A.Ş. Financial Advisor. Seller Aksa Elektrik Parakende Satış A.Ş.Üretim A.Ş. Financial Advisor Acquirer Boydak Elektrik Üretim A.Ş. Financial Advisor Acquirer Aksa Elektrik Perakende Satış A.Ş. Financial Advisor Acquirer 172,222,222 US$ 50,000,000 US$ 14,110,000 US$ 622,000,000 US$ 29,050,000 US$ 230,300,000 US$
IS Investment Corporate Finance Mergers & Acquisitions Deal List (Part III) 24 February 2010 December 2009 December 2009 December 2009 November 2009 Ocber 2009 Van Gölü Elektrik Dağıtım A.Ş Binbir Gıda Tarım Ürünleri Çamaltı Tuzlaları belonging Binbir Gıda Tarım Ürünleri Ayvalık Tuzlaları belonging Ak-Al Tekstil Aksu İplik Dokuma ve Boya Apre Fabrikaları T.A.Ş. Çoruh Elektrik Dağıtım A.Ş İş Venture Capital Aksa Elektrik Perakende Satış A.Ş. Aksa Elektrik Perakende Satış A.Ş. 6.67% share of Havaş Ground Handling Financial Advisor Acquirer Financial Advisor Acquirer Financial Advisor Acquirer Financial Advisor 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$ Ocber 2009 Ocber 2009 May2009 January 2009 November 2008 September 2008 İş REIT Tiway Oil has sold Museums and Hisrical Sites Ticketing Servies Anadolu Efes Biracılık ve Malt San. İş Venture Capital Frik İlaç San. ve Tic. A.Ş. FEM O.G.G Ayvalık Tuzlaları belonging Paşabahçe Tuzla Porcelain Facry Financial Advisor Acquirer Toreador Turkey Bilkent Kültür Girişim Financial Advisor Acquirer Etap Tarım ve Gıda Ürünleri Ambalaj San. ve Tic. Financial Advisor Acquirer Financial Advisor Acquirer 15,000,000 US$ 11,000,000 US$ 12,670,000 US$ 13,358,325 US$ 6,125,000 US$ June 2008 June 2008 June 2008 June 2008 June 2008 June 2008 Medtur Gıda FEM O.G.G. Tekel Nargile & Tütün Markaları and all related assets belonging Falp Kongre Toplantı Hiz. Omotiv ve Turizm A.Ş. Beyaz Filo O Kiralama A.Ş. (car fleet rental) Coca Cola İçecek Tarım Kredi Kooperatifleri Turkey İş Bank Anadolu Turizm İnşaat ve Tur. A.Ş. (Port) İş Venture Capital Step Halıcılık ve Mağazacılık A.Ş. (Textile) Coca Cola Beverages Pakistan Ltd Financial Advisor Acquirer Groupama Nemtaş Nemrut Liman İşletmeleri Swicorp Co. 305,000 US$ 8,750,000 US$ 80,000,000 US$ 280,000,000 US$ 10,773,377 US$ 6,750,000 US$
IS Investment Corporate Finance Mergers & Acquisitions Deal List (Part IV) 25 March 2008 Turkey İş Bank ASMAŞ Ağır Sanayi Makinaları February 2008 BC Partners February 2008 Tekel Tobacco January2008 Mahle GmBH December 2007 İş Venture Capital December 2007 İş Venture Capital Migros Türk A.Ş. Soda Sanayi A.Ş. Purchase of Shares through a Tender Call British American Tobacco Mopisan Mor Gömlek Pisn San. ve Tic. A.Ş. Turkmed Diyaliz ve Böbrek Sağlığı Kurumları A.Ş. Orpro Tıbbi Aletler Sanayi ve Ticaret A.Ş. Financial Advisor Acquirer Financial Advisor Acquirer Financial Advisor Acquirer 9,753,035 US$ 1,196,000,000 US$ 1,720,000,000 US$ Deal Value Undisclosed 2,500,000 US$ 6,000,000 US$ November 2007 Ada Metal Geri Dönüşüm Ltd. November 2007 Kemer Group November 2007 Kemer Group August 2007 Danone June2007 Şişecam A.Ş. June2007 İş REIT Kanyon Ofis Merkezi (Office Center) Ecomelt Alüminyum Geri Kazanım Üretim ve Pazarlama A.Ş. Port Kundu REIT Dolphin Capital Invesrs Ltd LaVanta REIT Dolphin Capital Invesrs Ltd. Çağlar Su (Water) Ferro Döküm Sanayi (Foundry) Efesan Demir Çelik A.Ş. Eczacıbaşı İlaç Financial Advisor Acquirer Deal Value Undisclosed 4,600,000 US$ 3,500,000 US$ Deal Value Undisclosed 82,000,000 US$ 79,650,000 US$ May 2007 April 2007 February 2007 Ocber 2006 August 2006 December 2005 İş Venture Capital Fiba Holding & Turkon Denizcilik Consortium İş Venture Capital İş Venture Capital İş Venture Capital İş Venture Capital Ode Yalıtım San. ve Tic. A.Ş. (Insulation) Kumport Liman Hizmetleri Lojistik San. A.Ş. (Port) Tuyap Tüm Fuarcılık Yapım A.Ş. Fuar Destek Hizmetleri A.Ş. Beyaz Filo O Kiralama A.Ş. (car fleet rental) Mars Sinema Turizm ve Sportif Tesisleri İşletmeciliği Mars Entertainment Group A.Ş. Tüyap Tüm Fuarcılık Yapım A.Ş. Financial Advisor Acquirer Financial Advisor 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$
IS Investment Corporate Finance Mergers & Acquisitions Deal List (Part V) 26 November 2005 November 2005 Ocber 2005 Coca Cola İçecek A.Ş. Ocber 2005 Ocber 2005 İş Bank August 2005 Yavşan Tuz İşletmesi (Salt Pan) Cihanbeyli Madencilik Makine Kimya Joint Venture Kayacık Tuz İşletmesi (Salt Pan) Özmutlu Mad. İnş. ve Tic. A.Ş. Birol Mutlu Joint Venture Efes Sınai Yatırım Holding A.Ş. Financial Advisor Acquirer Kaldırım Tuz İşletmesi (Salt Pan) Koyuncu Nakliye Pazarlama ve Ticaret A.Ş. İzmir Demir Çelik A.Ş. Şahin Koç Çelik Sanayii A.Ş. Cyprus Turkish Airlines ADA Havacılık Ltd. (Ada Havacılık ve Taşımacılık Joint Group) 37,300,000 US$ 42,200,000 US$ 255,000,000 US$ 40,700,000 US$ 79,050,000 US$ 33,000,000 US$ July 2005 Savings Deposit Insurance Fund (SDIF) July 2005 Savings Deposit Insurance Fund (SDIF) July 2005 Cinemaxx belonging Tepe Group December 2004 Diyarbakır Pamuklu Sanayi İşletmesi (textiles) November 2004 Çanakkale Sentetik Deri İşletmesi (textiles) July 2004 İş Venture Capital Netsel Tourism Investment Co. Tek-Art Kalamış ve Fenerbahçe Marmara Turizm Tesisleri A.Ş. Netsel Tourism Investment Co.. Toray İnşaat San. ve Tic. has been sold Cinemars M. Sait Dilek İremsan Kağıtçılık Turizm Sanayi ve Ticaret Ltd. Şti. Step Halıcılık ve Mağazacılık Sanayi ve Ticaret A.Ş. (textiles) Financial Advisor Acquirer 12,000,000 US$ 8,000,000 US$ 13,600,000 US$ 2,500,000 US$ 2,100,000 US$ 3,500,000 US$ February 2004 January 2004 December 2003 December 2003 May 2004 March 2004 Malatya Pamuklu Sanayi İşletmesi (textiles) Toros Tarımsal Üretim ve Pazarlama A.Ş. Adıyaman Pamuklu Sanayi İşletmesi (textiles) MGG Malatya Girişim Grubu Sepeksa Mensucat ve Toprak Mahsülleri Tic. ve San. A.Ş. (textiles) Financial Advisor Acquirer A-D Tekstil İşletmeleri Sanayi ve Ticaret A.Ş. TEKEL Alkollü İçkiler (alcoholic beverage) Nurol-Limak-Özaltın-Tütsab Consortium Tümosan Türk Mor Sanayi ve Ticaret A.Ş. (tracr company) Alçelik Yapı İnşaat A.Ş. İstanbul Gübre Sanayi A.Ş. (fertilizer) Yıldız Entegre Ağaç 6,400,000 US$ Undisclosed 1,450,000 US$ 292,000,000 US$ 27,200,000 US$ 100,500,000 US$
IS Investment Corporate Finance Mergers & Acquisitions Deal List (Part VI) 27 December 2003 December 2003 Ocber 2003 July 2003 July 2003 May 2003 İş Venture Capital İş Venture Capital Sakarya Traktör Sanayi İşletmesi Gerkonsan Steel Teknoteks Mühendislik İnşaat Nevotek Bilişim Ses ve İletişim Sistemleri San. ve Tic. A.Ş. Financial Advisor Acquirer Çankırı Kaya Tuzu (Salt Pan) Çankara Kaya Tuz San. ve Tic. A.Ş. Cinemars Cinema Chain Financial Advisor Acquirer Taksan Machine Tool HES Fiber Optik ve Elektronik To Sakarya 17 Ağuss OGG 3,015,000 US$ 3,000,000 US$ 535,079 US$ 5,000,000 US$ 10,000,000 US$ 2,300,000 US$ December 2002 İş Venture Capital December 2002 Petrol Ofisi Ocber 2002 İş Venture Capital March 2002 TSKB (Industrial Development Bank of Turkey) November 2000 TDI Alanya Limanı (Port) November 2000 TDI Çeşme Port İletişim Teknoloji Dan. A.Ş. Financial Advisor Acquirer İş Doğan Petrol Yatırımları A.Ş. (Holding) Financial Advisor Acquirer Probil Bilgi İşlem Destek IT Financial Advisor Acquirer Sınai Investment Bank Financial Advisor Acquirer Alanya Ticaret ve Sanayi Odası Girişim Grubu Çeşme Liman ve Turizm İşl. OGG 1,850,000 US$ 215,000,000 US$ 3,200,000 US$ 48,000,000 US$ 1,600,000 US$ 26,250,000 US$ November 2000 November 2000 July 2000 January 2000 TDI Dikili Port TDI Kuşadası Port Petrol Ofisi TDI Marmaris Port Dikili Liman ve Tur. İşl. OGG and Ege Akdeniz Liman İşl. OGG Limaş A.Ş. İş Doğan Petrol Yatırımları A.Ş. (Holding) Marmaris Ortak Girişim Grubu Financial Advisor Acquirer 5,200,000 US$ 61,000,000 US$ 1,050,000,000 US$ 14,900,000 US$
IS Investment Corporate Finance International Block Sale & Advisory 28 Oltenia Electric Company Privatization 500 MW HEPP privatization in Georgia Financial Advisor Buyer Advisory services the Uzbekistan Government and Uzbekistan Privatization Administration concerning the privatization efforts in the country Advisory services the Mongolian Government and Mongolian Privatization Administration concerning the privatization efforts in the country Financial Advisor Buyer Is Investment, through its London, Kazakhstan and Dubai offices, and cooperation through its numerous correspondent banks, provides international advisory services
IS Investment Corporate Finance Private Secr 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 İş Yatırım Coca Cola İçecek A.Ş Selçuk Ecza Vakıfbank BİM İş Girişim Yatırım Ortaklığı 74,209,184 US$ 318,308,697 US$ 181,845,377 US$ 1,269,091,122 US$ 214,186,635 US$ 21,640,157 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$ 13,634,851 US$ 69,003,485 US$ 51,568,293 US$
IS Investment Corporate Finance Private Secr 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 Secr Public Offerings (Part III) 31 1990 Aselsan 1990 Trakya Cam 77,665,000 US$ 81,000,000 US$
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$ 1993 USAŞ Uçak Sanayi 1991 TOFAŞ OTO 1991 TOFAŞ Fabrikası 1991 GİMA 1991 Niğde Çimen 1991 Ditaş Doğan 15,205,871 US$ 1,000,000 US$ 6,110,000 US$ 406,000 US$ 2,647,000 US$ 219,000 US$ 1991 1991 1991 1991 1991 1990 Petrol Ofisi Migros Adana Çimen Afyon Çimen 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$
IS Investment Corporate Finance Privatization via Public Offering (Part II) 33 1990 1990 1990 1990 1990 1990 Çelik Halat Bolu Çimen Türk Hava Yolları Arçelik Mardin Çiimen 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 Çimen ERDEMİR Konya Çimen 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) 34 2014 July 2014 July 2014 July 2014 June 2014 June 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 Term: 3 years Spread: 400 bps Book: 3,7 TRY 25,000,000 Term: 2 years Spread: 350 bps Book: 6,4 TRY 25,000,000 Term: 2 years Spread: 200 bps Term: 1,6 TRY 100,000,000 Term: 2 years Spread: 250 bps Book: 1,0 TRY 100,000,000 Term: 3 monts Spread:200 bps Book: 1,5 TRY 30,000,000 May 2014 May 2014 May 2014 May 2014 April 2014 April 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 Term: 2 years Spread: 500 bps Book: 1,5 Term: 2 years Spread: 200 bps Book: 2,0 Term: 2 years Spread: 225 bps Term: 3,0 TRY 30,000,000 TRY 39,959,505 TRY 410,040,495 TRY 50,000,000 TRY 100,000,000 TRY 100,000,000 March 2014 February 2014 February 2014 January 2014 January 2014 January 2014 Term: 3 monts Spread:200 bps Book: 1,0 Term: 178 days Spread: 90 bps Book: 2,4 Term: 2 years Spread: 175 bps Book: 1,0 Term: 174 days Spread: 65 bps Book: 2,2 Term: 179 days Yield: %10,1 Book: 1,6 Term : 3 years Spread : 325 bps Book : 0,7 TRY 30,000,000 TRY 100,000,000 TRY 100,000,000 TRY 150,000,000 TRY 100,000,000 TRY 140,000,000
IS Investment Corporate Finance Domestic Public Debt Issues (Part II) 35 2013 December 2013 December 2013 November 2013 November 2013 Ocber 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 Term : 3 years Spread : 500 bps Book : 1,5 TRY 100,000,000 Term 2 years Spread : 400 bps Book : 1,0 TRY 30,000,000 Term : 370 days Spread : 115 bps Book : 1,0 TRY 20,840,000 Term : 178 days Spread : 85 bps Book : 1,5 TRY 354,160,000 Term : 456 days Spread : 225 bps Book : 1,6 TRY 50,000,000 August 2013 July 2013 July 2013 June 2013 May 2013 May 2013 Term : 3 days Spread : 300 bps Book : 1,0 Finansman Türk A.Ş. Term : 2 days Spread : 135 bps Book : 1,0 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 Term : 2 years Spread : 350 bps Book : 1,0 TRY 50,000,000 TRY 75,000,000 TRY 175,000,000 TRY 3,800,000 TRY 100,000,000 TRY 30,000,000 May 2013 March 2013 March 2013 February 2013 January 2013 January 2013 Term : 3 years Spread : 300 bps Book : 4,0 Term : 179 days Spread : 80 bps Book : 1,0 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 Term : 179 days Spread : 80 bps Book : 1,4 TRY 100,000,000 TRY 115,000,000 TRY 125,000,000 TRY 15,000,000 TRY 25,000,000 TRY 279,037,251