MNT-Halan Acquires Tam Finans to Expand Financial Services in Turkey
MNT-Halan, a leading provider of digital financial services, has announced the complete acquisition of Tam Finans, a company specializing in financing and factoring in Turkey. This acquisition strengthens MNT-Halan’s international financial market position, with Tam Finans managing a loan portfolio exceeding $300 million.
Details of the Tam Finans Acquisition
The acquisition of Tam Finans was made by Actera Group and the European Bank for Reconstruction and Development (EBRD), aiming to bolster MNT-Halan’s presence in Turkey, a market with significant growth potential. Turkey has an estimated population of 85 million and a GDP exceeding $1 trillion, with a low household debt-to-GDP ratio of 11.7%, providing ample opportunities for expansion in the non-banking financial sector.
Munir Nakhlah, Chairman and CEO of MNT-Halan, commented on the acquisition: “The integration of Tam Finans into the MNT-Halan family allows us to offer innovative digital financial services to millions of businesses and individuals in Turkey. The combined expertise and capabilities of both companies will open up significant growth opportunities, enabling us to introduce new and distinguished services in the Turkish market. Tam Finans boasts advanced electronic credit evaluation programs and a distribution network covering 26 provinces, enabling it to provide services widely and efficiently.”
Strategic Expansion in International Markets
This acquisition follows MNT-Halan’s recent expansion into Pakistan and the UAE, underscoring the company’s ability to diversify and grow its business models according to the needs of various markets. MNT-Halan successfully raised $157.5 million from the International Finance Corporation (IFC) and current shareholders, including Development Partners International, Lorax Capital Partners, Apis Partners LLP, Lunate, and GB Corp. These investments highlight strong confidence in the Egyptian company’s ability to expand and deliver innovative digital financial services beyond its borders.
Future Impact of the Acquisition
Hakan Karamanli, CEO of Tam Finans, noted that joining MNT-Halan presents a significant growth opportunity, allowing for rapid expansion and access to a larger customer base in Turkey, while broadening the range of products and services offered. “We are thrilled to become part of MNT-Halan, a company that believes in empowering individuals and businesses to achieve their dreams through the right financial services. The advanced technology developed by MNT-Halan will enable us to grow faster and reach more customers in the Turkish market.”
Legal and Financial Advisors for the Acquisition
Esen Law Office, Matouk Bassiouny & Hennawy, and Van Campen Liem served as legal advisors for the buyers in this transaction, while Clifford Chance was the legal advisor for the sellers. PWC acted as the financial and commercial advisor for the buyers, and BCG served as the financial and commercial advisor for the sellers.
