In January 2007, Unicorn completed the acquisition of a 75% equity stake, including 100% of Class A (Management) shares, in Turkish brokerage and asset management company Inter Yatirim Menkul Değerler A.Ş. In December 2007, Unicorn increased its stake in Inter Yatirim to 81.8% and the company was renamed Unicorn Capital Turkey.Headquartered in Istanbul, with a branch office in Ankara, Unicorn Capital Turkey is licensed by Turkey’s Capital Markets Board to undertake a broad range of investment banking activities.
The Turkish market has undergone extensive government-led restructuring recently in an attempt to improve transparency and strengthen investor confidence. As a result, the banking sector is experiencing strong internal growth and substantial interest from international financial institutions.
Unicorn’s Turkey acquisition provides it with ‘on the ground’ access to Turkey’s rapidly growing financial services sector. At the same time, Unicorn is well placed to provide Unicorn Capital Turkey with the resources and expertise required to carve out a clear niche for the company, offering competitive and well-structured Islamic investment banking products and services.
Unicorn has made rapid progress during 2007 in restructuring and refocusing the business activities of Unicorn Capital Turkey. The management team has been bolstered by the recruitment of several experienced Turkish investment bankers and a thorough business strategy review has been undertaken. Unicorn Capital Turkey now offers clients a broad range of investment banking services, including corporate finance, private equity, asset management (through its subsidiary Unicorn Portföy, previously known as Inter Portföy), domestic brokerage and capital markets products and services.
