Turkish renewable energy investment trust Rhea Investments acquires Vakif Risk Sermayesi Yatirim Ortakligi

8 September 2009

Istanbul-based Rhea Investment, a private investment office with operations in the renewable energy sector, is set to purchase all of the controlling shares of Vakif Risk Sermayesi Yatirim Ortakligi, an Istanbul Stock Exchange listed joint stock company.

Vakif Venture Capital Investment Trust was founded in June 1996, and listed on Istanbul Stock Exchange in July 2000. The firm holds the title of the first venture capital investment trust established in the country and now has a market value of around TL10m ($6.5m).

Rhea’s Onur Takmak said, ‘As a company aspiring to become a leading regional alternative investment management platform in the EMEA region, Rhea is proud to inherit such prestigious history, and carry the flag to further successes. Going forward, we are aiming to dramatically expand VVCIT’s capital base and provide local and international retail and institutional investors the opportunity to co-invest and access attractive Turkish and regional investment opportunities together with us.’

Rhea expects the transaction will be closed during the fourth quarter of 2009 following approval from the capital markets board of Turkey.

Copyright © 2009 NewNet

Tags: renewable energy

This story was published on Tuesday, September 8th, 2009 at 10:15 am and is filed under Asia, Europe, deals, energy efficiency. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply