Turkey’s second-biggest conglomerate, the Sabanci Group, is considering international partnerships for strengthening energy management and manufacturing operations to reduce its reliance on the banking business.
Sabancı Holding reported revenue of 48 billion liras ($17.6 billion) and net income of 2.2 billion liras in 2015. It controls a fifth of the Turkish electricity market, handling everything from power generation to sales with German partner E.ON. It also operates supermarkets with French partner Carrefour.
Banking operations account for around 45 percent of the conglomerate’s total assets.
The company aims to increase the share of its energy and industrial businesses to 40-45 percent.