TURKEY – IFC
February 1st, 2005
BY KEITH NUTHALLTHE INTERNATIONAL Finance Corporation (IFC), of the World Bank, has agreed to acquire a minority stake in a growing Turkey fleet management company to help cement its transformation into a key player in the Turkish market. The IFC will invest in Intercity, which grew from a single person operation in 1992 to a company with 20% market share, 90 employees and 6,000 cars under management today. An IFC spokesman refused to disclose the cost of its equity investment, citing confidentiality agreements. A memorandum said the money would "strengthen ...
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