Aksoy Ventures

Founded in 1978, Aksoy Holding (subsequently named as Aksoy Ventures) operates in three main sectors; (1) Oil & Energy, (2) Tourism & Real Estate, and (3) International Trade.

Oil & Energy is the core sector of Aksoy Ventures and these activities are carried out through Turcas Petrol (BIST: TRCAS) and its subsidiaries. Turcas, with a history stretching back 88 years, is an oil and energy focused investment company with leading subsidiaries in their sectors:

  • Turcas’ flagship subsidiary in the Fuel Distribution and Lubricants market, Shell & Turcas Petrol - thanks to a network of 1,014 Shell-branded nationwide fuel stations, 12 fuel storage terminals, a state-of-the-art lubricant blending plant - reached a turnover of ca. 33 Billion TL in 2018. Shell & Turcas, established in 2006 as a JV company between Royal Dutch Shell and Turcas, is not only a leader of the Turkish energy sector but also ranks amongst the top 10 largest companies in Turkey.
  • In the field of Conventional Energy, Turcas and its German partner RWE AG owns and operates the 800 MW Denizli Natural Gas Fired Combined Cycle Power Plant since 2013 as result of a 600 Million Euro investment undertaken by the RWE & Turcas Power Generation JV company. Supporting Turkey’s security of energy supply with its high technical capabilities, Denizli Power Plant is capable of meeting ca. 2% of Turkey’s power demand.
  • In the field of Renewable Energy, Turcas fully owns and operates the 18 MW Aydın Kuyucak Geothermal Power Plant through its Turcas Kuyucak Geothermal subsidiary, which started commercial operations in Q4-2017.

Tourism & Real Estate is the second core sector of Aksoy Ventures:

  • Aksoy’s flagship asset in Tourism and Hospitality is the fully-owned Conrad Istanbul Bosphorus Hotel, one of Turkey’s largest and iconic 5+ star hotels, operated by Hilton since 1992.
  • Aksoy expanded its real estate investments into the Ultra Luxury Residential Segment with the crown jewel Epique Island project in Bodrum which is undertaken by the fully-owned Aksoy Ventures. Construction of Epique Island is fully completed and the project got rebranded as The Ritz-Carlton Residences, Bodrum, becoming the first ever standalone residential project of The Ritz-Carlton in Europe, Middle East and Africa.
  • Aksoy is also active in the Commercial Real Estate business through the ownership of Aksoy Plaza in Istanbul under the Aksoy Maslak Real Estate subsidiary.
  • Aksoy has been investing nationwide in Industrial Real Estate through the ownership of a number of fuel station sites under the Aksoy Petrol Real Estate subsidiary.

International Trade, third business unit of Aksoy Ventures, has a special focus on the distribution of branded lubricants in Iraq, Syria and other Middle Eastern and recently North African countries. Operations in this field are carried out by the fully-owned Aksoy International subsidiary and the Aksoy Middle East JV company.

While continuing to carry out investments, production, exports, distribution, trade and CSR activities with its global partners in various industries, Aksoy Ventures has embraced the vision of being one of the most admired, dynamically managed, continuously growing and value creating entrepreneurial investment companies in Turkey.

According to the consolidated financials of Aksoy Ventures (where flagship Shell & Turcas Petrol and RWE & Turcas Power subsidiaries are only consolidated based on equity pick up method due to minority ownerships), Group’s Total Assets and Shareholders’ Equity reached 2.8 Billion TL and 666 Million TL, respectively as of 2019 year end while employing ca. 2,078 people. The title of Aksoy Holding A.Ş. was registered as Aksoy Girişimcilik Enerji ve Turizm A.Ş. (“Aksoy Girişimcilik / Aksoy Ventures”) on May 29, 2020. The company has been carrying out its operation with its new title since then.




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