TNB, Malaysian largest electricity utility entered Turkish market through ÜNLÜ & Co’s financial advisory

Tenaga Nasional Berhad ("TNB") announced its entry into Turkey's growing energy sector after they signed a Share Purchase Agreement ("SSA") to acquire a 30% stake in the biggest Turkish energy provider company, GAMA Enerji A.S. ("GAMA Enerji"), for US$ 255 million. TNB will acquire the stake from GAMA Holding as well as International Finance Corporation ("IFC"), a member of the World Bank Group focused on the private sector, and GIF, a fund managed by the IFC Asset Management Company. The process to acquire GAMA Enerji began in December 2014 and was completed after careful and detailed due diligence by TNB and its financial advisors, ÜNLÜ & Co and UBS.

Today, the signing ceremony was held with the attendance of Malaysian Prime Minister HE Datuk Seri Mohd Najib Tun Razak at Hilton Istanbul Bomonti Hotel & Conference Centre.

ÜNLÜ & Co’s Corporate Finance Advisory Department Managing Director Mehmet Sezgin indicated; “This transaction is an important example of ÜNLÜ & Co’s facilitating another multinational company entering Turkey. ÜNLÜ & Co's deep experience in working with global companies in sizeable M&A transactions has contributed to successful completion of TNB’s investment in Turkey.”