Brunei invests in Turkey

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Brunei's Sultan Hassanal Bolkiah

The Sulatanate of Brunei has bought a 20 per cent stake in Turkish Yildiz Holding’s margarine and vegetable oil producing unit, Marsa Yag, the Turkish company said in a statement during an official visit of the Sultan of Brunei to Turkey. The value of the stake sale is $100 million.

Yildiz, the maker of Godiva chocolates, also set up a joint venture named Western Food and Packaging SDN BHD in Brunei with $30 million capital, according to the statement.

Marsa Yag exports butter to 60 countries including distant destinations like Argentina and New Zealand.

In 2011, the Brunei Investment Agency already purchased small stakes in Turkish firms Migros and Akcansa and said it had further investment interests in the country.

Brunei and Turkey signed agreements on April 10 to boost economic, commercial and technical cooperation as well as to remove visa requirements between the two countries, during a visit by Brunei’s Sultan Hassanal Bolkiah, the first Brunei official ever to visit Turkey.

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Reading Time: 1 minute

Brunei's Sultan Hassanal Bolkiah

The Sulatanate of Brunei has bought a 20 per cent stake in Turkish Yildiz Holding’s margarine and vegetable oil producing unit, Marsa Yag, the Turkish company said in a statement during an official visit of the Sultan of Brunei to Turkey. The value of the stake sale is $100 million.

Reading Time: 1 minute

Brunei's Sultan Hassanal Bolkiah

The Sulatanate of Brunei has bought a 20 per cent stake in Turkish Yildiz Holding’s margarine and vegetable oil producing unit, Marsa Yag, the Turkish company said in a statement during an official visit of the Sultan of Brunei to Turkey. The value of the stake sale is $100 million.

Yildiz, the maker of Godiva chocolates, also set up a joint venture named Western Food and Packaging SDN BHD in Brunei with $30 million capital, according to the statement.

Marsa Yag exports butter to 60 countries including distant destinations like Argentina and New Zealand.

In 2011, the Brunei Investment Agency already purchased small stakes in Turkish firms Migros and Akcansa and said it had further investment interests in the country.

Brunei and Turkey signed agreements on April 10 to boost economic, commercial and technical cooperation as well as to remove visa requirements between the two countries, during a visit by Brunei’s Sultan Hassanal Bolkiah, the first Brunei official ever to visit Turkey.

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