By John Lee.
ÜNLÜ & Co, a leading investment banking services and asset management group in Turkey, has said it intends to enter the Iranian market “in a gradual manner“, completing the acquisition of an Iranian brokerage in the next six months and become the first Turkish financial services firm to operate in Iran since the easing of sanctions.
Company Chairman and CEO Mahmut L. Ünlü said:
“As the market further opens up, we will be providing merger and acquisitions advisory, fund management and brokerage services to our clients in Iran.”
Reuters reports that the bank, which specializes in mergers and acquisitions and portfolio management, has also established an open-ended fund to invest in Iranian companies.
It is also advising a Turkish consumer goods company on the purchase of a majority stake in an Iranian firm. “It will be a $60-70 million deal,” Ünlü said, without giving further details.
(Sources: Hurriyet Daily News, Reuters)