Mergers and acquisitions in Türkiye totaled TL 86.2 billion ($4.59 billion) in 2022, the country’s competition watchdog said Friday.

The overall figure included seven privatization transactions that totaled TL 14 billion, the Competition Authority (RK) said in a report.

Most mergers and acquisition deals took place in the electricity production and distribution sector, followed by the transportation sector, the report by the watchdog showed.

The authority said that privatization deals were completed in the electricity production and distribution sector as well as airport operation and natural gas import and distribution.

Investors from the Netherlands and the United Arab Emirates (UAE) topped the list among nations involved in most transactions with five each, the report showed.

It added that the amount of investment reported to have been made by foreigners in the transactions involving Türkiye-based companies came in at nearly TL 43 billion.

Mergers and acquisitions in Türkiye totaled TL 42.6 billion in 2021 and seven privatization transactions totaled TL 95 billion.

Most deals took place in the electricity production and distribution sector, followed by the plastic packaging production sector.