Koç Holding A.S. (IBSE:KCHOL) is looking for acquisitions. Polat Sen, Chief Financial Officer said, "It's not earmarked for anything right now. That was the plan from the beginning.
And we are mainly keeping it for any possible acquisitions that may come up because when the time comes, you need the money. So our appetite for acquisition on M&A market is still there. We are looking for targets that would really fit to our expectations.
So -- and this amount, the EUR 600 million is needed for that. And also, we are always keeping a war chest, as you know, as positive net cash on our balance sheet for a long time, because going through turbulent times, this cash is keeping us safe from any ups and downs, let me say. So most probably, there will be waiting on our balance sheet until we find the right target to spend it for".
Koc Holding AS is a Turkey-based holding company, which operates in a number of sectors though its subsidiaries. The Company operates under the following business segments: Energy, Automotive, Consumer Durables, Finance and Other. Its Other segment is engaged in the food, retail, tourism, Information Technology (IT) and ship construction activities. The Energy segment is engaged in the power generation, mining, petroleum shipping, and in the production and trading of petroleum products, natural gas and Liquefied Petroleum Gas (LPG) activities. The Automotive segment is engaged in the production, trading, insurance and car rental activities. The Consumer Durables segment is engaged in the production and sale of a range of consumer durables, such as air conditioners. The Finance segment is engaged in the banking, consumer finance, factoring, leasing, brokerage, portfolio management, financial consulting, real estate and insurance activities.
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Investor
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ESG MSCI
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