Anadolu Efes and ENKA shares surge due to optimism over the Russia-Ukraine truce agreement
In the world of business, the ongoing saga of Anadolu Efes's Russian operations continues to unfold. The Turkish beverage giant, known for its popular brands such as Efes Pilsen and Bomonti, has been grappling with the challenges posed by the Russian market for some time now.
The next monetary policy meeting of the Turkish Central Bank is scheduled for Sept. 11, but the focus remains on Anadolu Efes as the company's shares rose over 6% during the Thursday session. However, it's important to note that the company's Russian operations, which were placed under temporary state control in December 2024, remain a contentious issue.
As of mid-2025, Anadolu Efes formally retains ownership of its Russian beer operations, but these operations have been placed under temporary external management appointed by a Russian Presidential Decree at the end of 2024. Consequently, the Russian operations are excluded from Anadolu Efes's consolidated financial statements and are instead accounted for as a "Financial Investment."
The company's efforts to acquire and control the Russian business were blocked by Russian regulators in mid-2025. This followed the appointment of a government trustee by President Vladimir Putin to oversee the venture, preventing Anadolu Efes from regaining control. Despite Türkiye's generally friendly diplomatic relations with Russia, the company remains unable to regain control due to this direct governmental intervention and regulatory rejection.
The political and regulatory factors in Russia are the primary reasons Anadolu Efes cannot reclaim control. This situation reflects a challenging environment for foreign operational control in Russia's beer market.
Meanwhile, other Turkish companies have been making strides in the domestic market. Shares of construction and engineering giant ENKA climbed 5.05%, the highest since mid-May, following news of its extensive projects in Russia. Koc Holding, Turkey's largest conglomerate, and its home appliance subsidiary Arcelik each rose more than 1.5%. The BIST 100 index surpassed 11,018.92 as of 1330 GMT with a ₺94.39 ($2.32 billion) trading volume, marking a 1% rise.
In other news, shares of Anadolu Group Holding also rose nearly 6% hitting their highest level since March 20. NEOM SC made a record €50M offer for Galatasaray star Baris Alper Yilmaz. Sisecam, a Turkey-based glass and chemicals manufacturer, also rose over 1%.
Elsewhere, consumer prices increased by 2.06% in July, according to official figures, while the BIST 100 index rose by over 1%, reaching a 2.5% weekly gain. A magnitude 6.1 earthquake occurred in Balikesir province, but no immediate reports of significant damage or casualties have been reported.
In the world of football, Fenerbahce could potentially be looking at Feyenoord captain Timber if they advance in the Champions League, according to reports.
The news of new tariffs for Türkiye at 15% has been met with some concern, but the overall sentiment in the Turkish market remains positive, with many companies showing resilience and growth.
- The challenges posed by the Russian market are evident in the case of Anadolu Efes, a Turkish beverage giant, whose Russian operations have been under temporary state control since December 2024.
- Despite Turkey's generally friendly diplomatic relations with Russia, Anadolu Efes remains unable to regain control of its Russian operations due to direct governmental intervention and regulatory rejection.
- In the midst of these challenges, other Turkish companies like ENKA and Koc Holding are making strides in the domestic market, with their shares rising significantly.
- Inflation in Turkey continued to rise, with consumer prices increasing by 2.06% in July, while the BIST 100 index also showed a 1% rise.
- The political and regulatory factors in Russia create a challenging environment for foreign operational control in the country's beer market. On the other hand, the Turkish real-estate and business sectors seem to be showing resilience and growth, despite the news of new tariffs for Turkiye.
