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Finance

Stellar Successfully Completes Yargıcı Sale!

At Stellar, we are thrilled to announce the successful completion of Yargıcı’s sale after an intensive six-month journey!

This strategic transaction was conducted with the utmost respect for Yargıcı’s rich legacy and brand value. By prioritizing the interests and sensitivities of all parties involved at every step, we navigated through detailed analyses and rigorous negotiations to achieve a successful outcome.

We ensured that Yargıcı embarks on a new chapter aligned with its strategic goals while adopting an approach that resonates with industry dynamics and our business partners’ expectations. This agreement goes beyond a mere company sale; it stands as a testament to Stellar’s expertise and reliability in M&A, solidifying our position in the industry.

We extend our deepest gratitude to the teams at Kamco, Yargıcı, Esin Attorney Partnership, PWC, TIMS, Acar & Ergönen Attorney Partnership, and KPMG for their invaluable contributions and collaboration throughout this journey. Their expertise and partnership played a crucial role in the successful conclusion of this transaction.

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Finance

The Imperative of Damage Assessment and Due Diligence in Shaping Economic Policy

Amid the turbulent economic climate of Turkey, the importance of undertaking a rigorous damage assessment and exercising due diligence before implementing new financial policies cannot be overstated. With the economy reeling from a range of homegrown unorthodox and unscientific policies, the recent elections have given way to an opportunity for a much-needed shift in economic management and policy-making. However, charting the way forward requires a comprehensive understanding of the state of the nation’s economy, the damage inflicted thus far, and the potential impacts of new policies.

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Finance

The Global Financial Crisis and Questioning Accepted Approaches

With the 2008 global financial crisis, we witnessed an increasing number of individuals and organizations questioning the accepted approaches to economic theory compared to the past; we still do. Although this questioning had never ceased, the crisis, which we always thought was distant from contemporary life, began to make itself felt in a disruptive manner with all its unpleasantness, causing even those who rarely questioned or questioned at all to pause and think. As a result, topics such as the origins and development of capitalism, new economic theories, alternative economic models, financialization, and so on, started to occupy the agenda extensively.

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Finance

Unveiling the Power of Budgeting and Forecasting for Corporate Success

As business consultants at Stellar Consult, we believe that a robust and effective budgeting process is the cornerstone of any successful company, irrespective of its size, industry, or geographic location.

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Finance

How to become a Financial Center? Can Istanbul become a Financial Center?

What is a Financial Center (FC)?

A Financial Center is the term used to describe clusters where participants of banking, asset management, insurance, and financial markets carry out their activities, supported by legal and physical infrastructure.

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Finance

What is the Sovereign Wealth Fund’s intervention in BIST for?

Unlike its counterparts in the world, the fact that almost all of the companies in the sovereign wealth fund, which was established as a shareholder of institutions with public shares rather than aiming to manage funds, are traded on BIST is important for the formation of these companies’ market value. Since the sovereign wealth fund is designed as an unsupervised, unaccountable legal entity as an alternative new borrowing pocket for the Treasury, the market value of the companies it owns is of great importance.

The sovereign wealth fund tries to keep the market value and therefore the collateral value of foreign sources created abroad that can provide borrowing support high by supporting BIST derivative instruments on BIST and VIOB with its liquid funds. It is needless to say that this is a very dangerous and, as usual, an application contrary to market conditions. In addition, since this purchase support cannot continue indefinitely and lending institutions will be aware of this, they will already demand a much larger percentage of shares as collateral value or keep the LTV (loan-to-value) ratio low. As in every aspect of the market, opaque practices always face a higher risk premium and a high amount of debt as collateral against the Sovereign Wealth Fund. Above all, small investors who are lured into this virtual world with the exit of the stock market should be willing to accept much greater losses in the future. Neither inflation, nor exchange rates, nor unemployment, nor the current level of stock market indexes are realistic.