Sabanci sees acquisitions as part of its strategy to reach USD 20bn NAV by 2029 - CFO
Summary
Sabanci sees acquisitions as part of its strategy to reach USD 20bn NAV by 2029 – CFO Turkish conglomerate Sabanci Holding [IST:SAHOL] is considering acquisitions for its renewable energy, digital and advanced materials business lines as part of its strategy to double its net asset value (NAV) to USD 20bn by 2029, CFO Orhun Kostem, told Mergermarket. Energy is the highest EBITDA generator in the company’s portfolio and significantly contributes to its NAV through its high dividend pay-out ratio, the CFO said. Energy had a 32% share of the company’s NAV, while banking and financial services contributed 43%, material technologies and mobility solutions 18%, others had 5% and digital had 2%, the CFO said. The holding company manages its majority stake in its retailer joint venture (JV) Carrefoursa [IST:CRFSA] in a way that is meant to maximise its value through franchise growth, Kostem said. Teknosa [IST:TKNSA] has transformed itself from tech retailing to a marketplace, which is growing and increasingly becoming part of the new digital business, Kostem said.