20 Apr 2015
During his trip to Turkey last week, Mohammed Al-Shroogi, President of Investcorp’s Gulf Business, paid a visit to H.E. Recep Tayyip Erdogan, President of Turkey, and shared with him Investcorp’s latest investments and long-term plans in Turkey. Mr. Erdogan and Mr. Al-Shroogi also discussed the overall investment landscape in Turkey and the economic ties between the country and the various GCC countries. There were encouraging notes from the Turkish President during the meeting on Investcorp’s growing presence in Turkey and its increasingly important role as a bridge between the Gulf and Turkey.
The meeting came on the back of Mr. Al-Shroogi’s participation in the Turkish-Arab Economic Forum (TAF), which was held in Istanbul. As part of a panel titled “The Next Stage in Turkish-Arab Cooperation”, Mr. Al-Shroogi highlighted that Investcorp has invested over US$500 million in Turkey through four different companies over the last few years. Investcorp’s latest investment was the acquisition of Arvento, Turkey’s leading telematics company.
Other portfolio companies in Turkey include: Namet, the leading Turkish producer of fresh cut and packaged processed red meat products; Orka Group, the leading luxury branded menswear retailer; and Tiryaki Agro, the leading trader and supply chain manager of agro commodities in Turkey.
The panel also hosted a line of honourable ministers, including H.E. Mehmet Simsek, Minister of Finance; Turkey, H.E. Sheikh Ahmed Bin Jassim Al Thani, Minister of Economy & Commerce, Qatar; and H.E. Naseer AL-Esawi, Minister of Industry and Minerals, Iraq.
Led by Mohammed Al-Shroogi, Investcorp’s delegation to Turkey also met with the management teams of the four Turkish companies and held a number of meetings with business partners to discuss future plans and potential investment opportunities in Turkey.