On the occasion, Dr. Ghassan Al Suleiman, Chairman of Venture Capital Bank, said: “This transaction underlines our faith in the strength of the Turkish economy and its vast potential to attract global investment. In partnership with Bank Alkhair, Venture Capital Bank has identified this unique opportunity to enter the rapidly growing Turkish market. We continuously strive to identify opportunities that will allow us to achieve optimal results, while contributing effectively to the economies of the MENA region.” Mr. Abdullatif Mohamed Janahi, CEO of Venture Capital Bank, added: “The Bank’s Investment Team has worked hard to structure the deal in line with the aspirations of our investors, in addition to materializing the vision of Venture Capital Bank to enter into new markets which offer vast opportunities and contribute to regional economic growth.
Agricultural investment in the region ranks high in the Bank’s investment strategy as it plays an important role in securing food and in particular the basic items such as rice, wheat, barley, fruits, chemical fertilizers and others.” Mr. Yousef Al-Shelash, Chairman of Bank Alkhair, commented, “We are pleased to have arranged and co-structured this transaction, which marks one of the largest investments in the agro-food sector in Turkey. We look forward to working with Venture Capital Bank to support Goknur’s growth plans in Turkey, as well as the company’s planned expansion in its export markets, including the Middle East.” He added: “The acquisition of Goknur demonstrates Bank Alkhair’s commitment to the Turkish market and reflects our confidence in its growth prospects. It also underscores the importance of Turkey as a key destination for Middle East private equity investments.
Turkey’s high rate of growth relative to other emerging markets has resulted in a growing appetite on the part of foreign investors for exposure to Turkey, and through our subsidiary, Alkhair Capital Turkey, Bank Alkhair intends to leverage these developments to attract further investment from the GCC region into Turkey.” Mr. Osman Aslanali, CEO of Goknur Foods Import Export Trading and Production Co., expressed his pride in this partnership with Venture Capital Bank and Bank Alkhair, commenting that it will contribute to enhancing the future expansion plans of the company, particularly in view of the vast investment potential of Goknur as one of the leading companies in importing, exporting and food production in Turkey. “We look forward to working with our partners to fulfill our growth plans and further grow Goknur. This partnership will allow Goknur to enter new markets, thereby increasing the visibility of Turkish products internationally.”