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Turkey: Conglomerates reach deal to acquire ferry operations

By  |  August 5, 2014

Two Turkish private equity conglomerates, Esas and Actera, have reached an agreement to jointly acquire a Turkish ferry operation from current owner, global equity firm KKR.

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    KKR will sell UN Ro-Ro Isletmeleri to the companies; Esas owns the nation’s largest budget airline, while Actera is the nation’s largest buyout specialist, according to reports.

    KKR first acquired the ferry freight company for $1.2 billion in 2007, though the parties declined to reveal financial details of this transaction.

    According to reports, the ferry operations have developed long-distance Mediterranean services that link Turkey with Italy and France.

    Its sale remains subject to regulatory approval.

    Full content: Bloomberg

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