Islamic Finance

Abu Dhabi’s IHC eyes investment opportunities in Turkey

Published 26 Aug,2021 via Hürriyet Daily News - Abu Dhabi conglomerate International Holding Co. is seeking investment opportunities in Turkey in sectors including healthcare, industrial and food processing, its chief executive Syed Basar Shueb said.

A company delegation is visiting Turkey this week to scout for opportunities, according to Shueb.

“Turkey has one of the biggest food processing facilities, so we are looking into that as well.”

A source familiar with the matter in Istanbul said IHC is seeking minority stake in several companies and looking for some mid-size deals in several sectors.

“The moment a new market opens for us, our team is there,” he said, adding IHC is looking for opportunities in healthcare, industrial and food processing sectors in Turkey.

The move comes as relations between the United Arab Emirates (UAE) and Turkey show signs of improvement.

President Recep Tayyip Erdoğan held talks with UAE National Security Adviser Sheikh Tahnoun bin Zayed al-Nahyan last week in a meeting which also focused on economic cooperation.

Thanoun is chairman of IHC, which in recent months has become Abu Dhabi’s most valuable stock on the bourse.

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