Aksoy Ventures

Founded in 1978, Aksoy Holding (official title: Aksoy Ventures Energy and Tourism Inc.) operates in five sectors; Oil, Energy, Tourism, Real Estate, and International Trade.

Oil & Energy is the core sector of Aksoy Holding and these activities are carried out through Turcas Petrol (BIST: TRCAS) and its subsidiaries. Turcas, with a history stretching back 90 years, is an oil and energy focused investment company with leading subsidiaries in their sectors:

Turcas’ flagship subsidiary in the Fuel Distribution and Lubricants sector; Shell & Turcas Petrol — thanks to a network of approx. 1,100 Shell-branded nationwide fuel stations, 12 fuel storage terminals, a state-of-the-art lubricant blending plant — achieved a turnover of 39.3 Billion TL in 2019. Shell & Turcas, established in 2006 as a JV company between Royal Dutch Shell and Turcas, is not only a leader of the Turkish fuel retail industry but also ranks amongst the top 10 largest companies of Turkey.

In the field of Conventional Energy, Turcas and its partner RWE created the JV company RWE & Turcas Power which invested in the 800 MW Denizli Natural Gas Combined Cycle Power Plant and started commercial operations in 2013. RWE & Turcas achieved a turnover of TL 1 billion in 2019.

In the field of Renewable Energy, Turcas Kuyucak Geothermal Power, a wholly-owned subsidiary of Turcas, which operates in the field of renewable energy, is the owner and operator of the 18 MW Geothermal Power Plant in Kuyucak, Aydın.

Tourism & Real Estate are the other core sectors of Aksoy Holding:

Aksoy’s flagship Tourism asset is the fully-owned Conrad Istanbul Bosphorus Hotel, one of Turkey’s largest and iconic 5+ star hotels, operated by Hilton since 1992.

Aksoy Holding expanded its real estate investments into the High-End Residential Segment with the crown jewel The Ritz-Carlton Residences, Bodrum investment. Initial name of the project Epique Island was rebranded to The Ritz-Carlton Residences, Bodrum through a set of agreements signed in July 2020 which became the first ever standalone (not tied to a hotel property) residential project of The Ritz-Carlton in Europe, Middle East and Africa. Construction has been completed in 2020 and life has started in the compound.

Aksoy Holding is an active nation-wide investor in the Commercial and Industrial Real Estate space through its subsidiary Aksoy Real Estate Investments which own the Aksoy Plaza in Maslak, Istanbul and a number of fuel station properties spread across Turkey.

International Trade, fifth business unit of Aksoy Holding, has a focus on the distribution of high quality, branded lubricants in an expanding geography that started in Iraq, Syria and other Middle Eastern countries and recently to North Africa. 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 in generation, production, exports, distribution, trade and CSR activities with its global partners in various industries, Aksoy Holding 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 Holding [where the flagship Shell & Turcas and RWE & Turcas subsidiaries are consolidated through equity pick-up method due to minority ownerships], Group’s Total Assets and Shareholders’ Equity reached ca. 3 Billion TL and 700 Million TL, respectively as of 2019-end while employing ca. 2,078 people directly and 15,000 people indirectly.

Aksoy Holding carries out operations with its official title Aksoy Ventures Energy and Tourism Inc. following the merger with its wholly-owned subsidiary Aksoy Bodrum Real Estate Investments Inc. on May 29, 2020.