Presentation

Corporate Finance Specialist
CONTENTS
TOP
•
•
•
•
ABOUT US ...................................................................................... 2
SERVICES ....................................................................................... 3
o
Financial Check-Up ............................................................................. 4
o
Capital Structure Management .......................................................... 5
o
Bank Relations and Credit Management .......................................... 6
o
Financial Assessment and Rating Report ....................................... 7
o
Long and Short Term Financial Planing ........................................... 8
o
Financial Modeling and Investment Project Analysis ..................... 9
o
Merger and Acquisition Consultancy.............................................. 10
o
Company Valuation ........................................................................... 11
o
Board of Management and Executive Board Consultancy ........... 12
WHO WE ARE ............................................................................... 13
REFFERENCES ............................................................................ 15
1
ABOUT US
2%
2%
2%
2%
References of Besfin by Sectors
5%5%
27%
ABOUT US
10%
7%
7%
Besfin’s large customer portfolio and important references
create a valuable network system. Specialized and result based
managers of Besfin provide private services for customers. With
these works purpose to instruct recruitment of customers
financial structure under high competition circumstances,
increase company value, doing merger & acquisitions and set up
new investments.
Sustainable
Growth
WHO WE ARE
Retail
Automotive
Tourism
Energy
Venture Fund
Mining
Ceramic
Production
Tyre
Food
Main theme of the Besfin is a corporate finance advisory firm. Its
mission provides high qualified advisory service with customer
satisfaction. Besfin established in 2011 by Ferda Besli. Besfin
customers are operating 20 different sectors in Turkey with
regions like İstanbul, Ankara and İzmir.
SERVICES
Construction and Real Estate
Iron and Steel
Textile
Rubber
Entertainment
Logistics
Health
Agriculture
Plastic
Advertisement
7%
ABOUT US
Others %32
REFFERENCES
Companies’ decision raises direct or indirectly financial results; corporate finance aims to
investigate these decisions with in every respect. Briefly Corporate Finance main subject is
maximizing company value with minimizing risks.
Besfin intends to support with Corporate Finance subjects to its customers target for growing,
adding value and sustainable financial structure to companies.
T
Corporate
Finance
2
SERVICES
SERVICES
Capital Structure Management
•
Long and Short Term Financial Planning
Corporate Finance
•
Management
Consultancy
Merger and Acquisition
Consultancy
•
Company Valuation
•
Financial Assessment and Rating
Report
Investment
Consultancy
Bank Relations and Credit
Management
Board of Management and Executive
Board Consultancy
•
Special Services
WHO WE ARE
•
Financial Modeling and
Investment Project Analysis
REFFERENCES
T
•
•
SERVICES
Financial Check-Up
ABOUT US
•
3
Financial Check-Up
•
Do your turnover decreasing although rivals are
increasing?
Does Liquidity get worsen?
Does cycle time string out?
Do Debt ratios become higher?
Do interest expenses become higher?
Do profit margins decreasing?
SERVICES
•
•
•
•
•
ABOUT US
Companies do not go worsen in a one day!
Financial Check-Up
This kind of situations are mostly raises by aggressive
growth strategies with unorganized financial resources,
weak business plans, insufficient communication
between departments, undetermined performance
criteria, weak financial reporting system or dismissed and
not to take notice from warning signals.
REFFERENCES
Financial Check-Up serves to diagnose earlier signals of critical financials for
companies. It avails all kind firms which have deteriorated financials or
targeting to operate wealthier.
WHO WE ARE
Early diagnose has an important role for companies
financial wealth. Worsening companies are signals
before things get worsen. Some of these important
signals are increase of leverage ratio, decreasing
turnover, break down of targeted financial ratios,
shrinking profit margins, lengthening cash conversion
cycle.
This service contains financial analysis of companies; diagnose existing or potential problems and offers solution. For the customers this analysis
technique compares best firms from domestic and foreign companies’ financial data within same sector. Then results shows us how does the company is
performing in related terms.
Analyzing of
Financials
Comparison
Analysis with Rivals
Solution Offers
T
Developments in the
Sector
4
Capital Structure Management
Capital Structure
Management
A company how much needs to fund for its strategic targets? For this need how much capital require and how much loan
Firm B
Firm A
50%
Cash and Deposits 15
Receivables
15
Inventories
30
Weak
(Over Loaning)
40 Equity
50
100 Total Lia. and Eq. 100
Current Assets
Firm B (TL)
60 Liabilities
Strong
(High Capital)
75
Cash and Deposits 10
Receivables
15
Inventories
35
Fixed Assets
Total Assets
40 Equity
25
100 Total Lia. and Eq. 100
Low Rating
High Interest Rate
High Rating
Low Interest Rate
Current Assets
Firm C (TL)
60 Liabilities
25
Cash and Deposits 20
Receivables
15
Inventories
25
Fixed Assets
Total Assets
40 Equity
75
100 Total Lia. and Eq. 100
WHO WE ARE
Fixed Assets
Total Assets
50
75%
SERVICES
Firm A (TL)
60 Liabilities
25%
75%
Normal
(Capital and Funds are balanced)
Current Assets
Firm C
25%
50%
ABOUT US
managed? These questions answers are depends to company and its sector.
At the below you can see a sample model for you, which one is representing to your firm?
Very High Rating
Low Interest Rate
Inefficient use of Resources
•
•
•
Analysis and Solution Offers of Besfin
Receivable and Inventory turnover analysis with effective working capital procedures decreases need of loan so interest expenses decreases that
affects company become more profitable,
The best Capital Structure planning for the company increases its Rating,
Determine the best convenient fund for investments,
Planning alternative financing resources like public offering and bond supply for the company.
Evaluate Financial
Indicators
Analyzing Basic
Debt Ratios
Analyzing Resource
Structure
Solution Offers
T
•
REFFERENCES
There is no any standard to find optimum resource diversification for companies. At the above a model shows us optimum resource diversification
changes by the type of sector and structure of the company. There is one thing should not be forgotten especially for businessman. Companies debt
limit are not unlimited. Companies Rating affected by capital structure positively or negatively. Credit Rating shows us capability of debt discharging. If
credit rating of the firm is increasing companies’ debt capability increases and cost of debt become lower. For this reason optimum resource
diversification has a very important role for companies.
5
Bank Relations and Credit Management
to determine
Credit Ratings. A company which has a high credit rating has to be
strength discharge and cash generation structure with wealthy
management organization. This capability creates a free
environment about financing process for the company.
Aa1
35
30
120
25
20
Aa3
80
15
A1
10
40
At this stage decisions and plans have a very important role for
determining company’s financing strategy. Kind of the loans, credit
periods and interest rates examine in the determination of company’s
financing strategy. After the arrangements company’s indebtedness
gets better and it will have more wealthy financing structure. This
developments results company’s reputation become more respected
by banks and it allows utilizing with lower interest rates.
SERVICES
Growth & Credit Rating of the Firm
160
Short and long term borrowings have a very important role for
companies’ operational needs. For this reason arrangement of debts
is the main point of the Assets-Liability Management. Bank Relations
and Credit Management service focused on balance sheets liability
side for investigate companies financing structure which is a sub
branch of a Capital Structure Management service.
ABOUT US
Financial
ratios and
metrics
areManagement
the first references
Bank
Relations
and
Credit
2010
Net Sales
2011
EBIT
2012
Net Income
0
Credit Rating
Investigation of
Debtor Banks
Analyzing Loans
2010
60%
150%
300%
300%
2011
55%
130%
400%
250%
2012
50%
100%
500%
200%
Service of the Bank Relations side is tried to develop our customer’s
relationship between banks. Our consultancy about how to become better
bank relations with customers, which banks are more suitable for our
customers, what the more effective credit period is and how much loan is the
best fitted for our customers.
Analyzing Debt
Ratios
REFFERENCES
Scope of service offers such as; investigation of customers
confirming banks and these banks are a really market maker,
analyzing limit usage rate, does the financial debts are reliable for
the company’s asset structure, how to increase Rating, interest
rates are fixed with market rates, evaluation of assurances,
monitoring cash flow, decreasing loan requirement and analyzing
capital structure of company.
Financial Structure and Ratios
Total Loans / Total Liabilities
Total Loans / Capital
EBIT / Interest Expense
Loans / EBITDA
Solution Offers
T
0
WHO WE ARE
5
6
Financial Assessment and Rating Report
Financial Assessment and Rating Report
ABOUT US
Besfin’s Italian partner ModeFinance provides for customers domestic or
foreign companies Financial Assessment, Rating and Sector Reports.
These reports lighten company’s cooperators financial structure about credit and
assurance structure for fix working condition between them.
SERVICES
Especially for the exporter companies this service has a lethal importance for
investigate new customers. With this intelligence exporters observe new
customers financial credibility so firms could optimum agreement.
Another advantage of this service is companies could investigate foreign firm’s
financial structure which is planning to make partnership with each other or
potential partners.
WHO WE ARE
Unfortunately these reports are unachievable by solely unless privileged firms
like Besfin could provide these reports for customers with fair price for
customers foreign growth strategies become more reliable.
REFFERENCES
ModeFinance Report
Preparation
Presentation of
Credit Report
Customer
Assessment
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Request of Credit
Report
7
Long and Short Term Financial Planning
3 Year Plan of Example Co.
Recent Planning
Planning
Income Statement ('000 $)
Planning
Period 3
Sales
17.000
20.000
23.000
26.450
Cost of Sales (-)
16.560
18.400
20.240
22.264
Gross Profit
440
1.600
2.760
4.186
EBIT
400
1.000
2.160
3.586
250
850
2.010
3.436
575
1.195
2.380
3.836
SERVICES
Net Profit/Loss
EBITDA
Besfin offers determining to assist strategic, operational and financial targets
with examine detailed budget and projected financial statement for its customers.
This service include some decision points like; to reach strategic targets, best
fitted financing conditions for investments, to catch financial strength and
become more prepared against economic changes in the future under the Long
and Short Term Financial Planning service to customers. Well-designed
Financial Planning provides to companies an effective working capital structure.
ABOUT US
Periods
Term Period
1 Period 2
Long and Short Term Financial
Planing
Balance Sheet ('000 $)
4.521
5.410
6.299
7.336
Cash and Cash Equivalents
2.677
3.150
3.622
4.165
603
710
816
938
Receivables
Inventories
Fixed Assets
124
1.550
1.860
2.232
3.782
4.450
5.117
5.885
8.303
9.860
11.416
13.221
3.474
3.860
4.246
5.833
Loans
1.359
1.510
1.661
2.989
Payables
2.115
2.350
2.585
2.843
990
1.100
1.210
1.452
Equity
Long-Term Liabilities
3.839
4.900
5.960
5.936
Total Liabilities and Equity
8.303
9.860
11.416
13.221
92%
88%
84%
Financial Ratios
Sales/Cost of Sales
97%
2,05
2,03
2,01
2,00
1,30
1,40
1,48
1,26
Equity/Sales
23%
25%
26%
22%
Total Liabilities/Total Assets
0,54
0,50
0,48
0,55
18%
Sales and Cost of Sales
16%
14%
12%
10%
8%
Planning Period 1
Planning Period 2
Sales
Examine Business
Cycle
Determine Financial
Situation and Targets
REFFERENCES
Sales/Total Assets
Current Assets/Short-Term Lia.
Well-designed financial planning creates an alternative investment and financial
decision for the companies especially remarks financial and strategic issues like
liquidity, inventory, working capital, capital structure, profit shares and budget.
WHO WE ARE
Total Assets
Short-Term Liabilities
Financial Planning includes some projections like; Inputs; sales projection, costs,
interest rates and exchange rates with liabilities and currency account. These
inputs indicate assumptions for modeling projected financial statement and
budget.
Strategic Growth
Practice
Planning Period 3
Cost of Sales
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Current Assets
Sustainable Growth
8
Financial Modeling and Investment Project Analysis
PROJECT X - Wind Power Cell Financial Model Summary
Macroeconomic Assumptions
Financial
ModelingStart
and Investment
Project
Analysis
Definition
Due
Exchange
Rates
Refference Date
January-13
January-13
January-13
January-15
January-13
December-14
December-14
December-23
January-60
100,00
38,50%
2,00%
15,00
Emission Price (€/tone)
Carbon Emission ('000 tone)
O&M Cost (Annual €)
Land Cost (Annual TL)
Other Costs (%)
Tax Rate
5,00
187,00
30.000,00
30.000,00
5,00%
20,00%
Investment Project
EUR Enflasyonu
Interest Rate
01.01.2013
01.01.2014
01.01.2015
01.01.2013
EURIBOR (3M)
0,13%
0,18%
0,57%
3,00%
LIBOR (3M)
0,31%
0,47%
0,69%
Project and Capital Yield
27,80%
32,00%
8 year
10%
Generated analytical and dynamic financial models
provide in depth analysis for investments. Financial model
tests investment with various scenarios which includes
sensibility issues such as macroeconomic developments,
cost increases, price changes and delays.
Sensitivity Analysis - IRR Fluctuation
%
14,4%
79,1%
4,3%
1,4%
2,4%
7,2%
5,5%
100,0%
71,2%
28,8%
REFFERENCES
Construction Cost
Turbine Cost
Labor Costs
Loan Commissions
IDC
Unexpected Costs
VAT
Total Uses
Project Credit
Equity
Total Sources
5,00%
2,00%
Project IRR
Capital IRR
Payback Term
Discount Rate
NPV @ %10
Sources and Uses Statement
$m
10,00
55,00
3,00
1,00
1,70
5,00
3,80
69,50
49,50
20,00
69,50
1,85
2,35
1,30
WHO WE ARE
Installed Capacity (MW)
Capacity Usage
Distribution Loss
Electricity Price (Penny/kWh)
01.11.2012
01.11.2012
01.11.2012
Refference Date
01.01.2013
01.01.2013
SERVICES
Operation Assumptions
USD/TRY
EUR/TRY
EUR/USD
Inflation
TL Enflasyonu
USD Enflasyonu
Financial Modeling and Investment Analysis service offers
investigating with various scenarios of investment projects
beside it determine financial risks in occasions which are
unexpected with try to find answer of how could it prevent.
Financial installation of investment analyzed with
systematically and the results are presented to our
customers in the shape of an information memorandum
for to share with financial intuitions or potential investors.
Determine Risk and
Prevention
Technical Analysis
Financial Model and
Investment Analysis
T
Financial Closure
Construction Term
Credit Use
Credit Period
Operation Term
ABOUT US
Project Time Table
9
Merger and Acquisition Consultancy
•
•
•
•
ABOUT US
• Should
I need a strategic partner for grow my domestic and foreign market?
Merger and Acquisition
Consultancy
Should I need a loan or partner for a growth?
Should I grow my company organic or inorganic?
Should I sell my company?
What can I do to make investment in a different sector, which firm and how can I buy it?
SERVICES
Besfin offers a consultancy for buyer or seller side for M&A process. This service includes process, financial issues, company valuation,
buy/sell tactics and strategies subject.
For the buyer side Besfin assist to customers; determine the target firms, contact with seller firms, determine the negotiation strategies and
conduct the process for customers, conducting due-diligence practice, determine the proposal and supporting negotiation process.
M&A Transactions in Turkey
80%
30
40%
10
20%
2007
2008
2009
Transaction Value
Preparation
0%
2010
2011
Foreign Investments
Marketing
Year
2007 2008 2009 2010 2011
241
169
101
203
Number of Transaction
160
5,2
29
15
Value of Transactions (Billion $)
19,3 16,2
%7
Privatizations
%12 %32 %23 %50
Foreign Investors
%70 %85 %43 %36 %74
%8
%3
Financial Investors
%13 %30 %13
62
100
51
140
Av. Transaction Value (Mil. $)
120
Share of 10 Biggest Transaction in Total %60 %69 %44 %69 %56
Due Diligence
REFFERENCES
60%
20
0
100%
Negotiation and
Closure
B
40
WHO WE ARE
For the seller side Besfin assist to customers; preparing information memorandum, determine the potential buyers, sharing the information
memorandum, conducting due-diligence practice and supporting negotiation process issues.
10
Company Valuation
How much my company does, how can I increase its value?
Company Value By Valuation Method (Million $)
ABOUT US
Company Valuation
Discounted Cash Flow
Trading Comparables
SERVICES
Valuation of the company gives a chance to determine
companies’ value and leads how it could increase with
correct decisions. After the valuation process customers
could decide which part of the company make improvement
with considering strategic targets and long term roadmap.
Transaction Comparables
Trade Price os Last 12…
Buying Price
Analist Estimation
Board Estimation
350
525
700
Benchmarking
Studies
Cash Flow Analysis
Determine the Value
REFFERENCES
Company Value
Company’s’ value can be calculated with various methods. Most
common methods are Trading Comparable Analysis, Transaction
Comparable Analysis and Discounted Cash Flow Analysis.
Company Value
T
175
WHO WE ARE
Trading
Comparable
Analysis
Current Equity Price
11
Board of Management and Executive Board Consultancy
Board of Management and Executive Board Consultancy
Evaluate New Investments
and Opportunities
Strategy & Business
Development
Financail Result of
Operational and Production
Decisions
Operation
ABOUT US
Pricing & Product Analysis
Sales & Marketing
Every Decision is a
Financial Decision
for a Company!
SERVICES
WHO WE ARE
After the Financial Check-Up comprised tables and offered solutions Besfin offers to customers consultancy about board of management
and executive board. Besfin’s managing partners presents and monitors Financial Check-Up solutions with macroeconomic events and give
consultancy about financial issues for customers when they participated board meetings.
This service formed by 3 main topics;
II.
Management of
Financing
Strategic Decisions
Risk Management
REFFERENCES
III.
Management of Corporate Finance includes; determining national and foreign financial tools which are best fitted to the company, fit to
company’s balance sheet, income statement and financial ratios international standard for increasing corporate rating, short and long
term financial planning, company valuation, M&A and avoiding risks practice such as Hedging.
Supporting Business Development and Growth Strategies topic tries to find answer like these questions; company focused which
trends and ideas in the future? This investment reserves what kind of risks and opportunities? What is Internal Rate of Return (IRR) and
it takes how many years?
Risk Management and Strategic Control; Risk Management includes Operational Risks (Process, Contract, Larceny, System Risks),
Market Risks ( Price fluctuations, inflation, competition), Financial Risks ( Exchange rate risks, interest risks, cash flow) with Strategic
Control side monitoring company’s targets and evaluate where is in the process, what is the company’s performance and finally follows
costs, income and cash flow consider with expectations.
Consultancy
Service
T
I.
12
WHO WE ARE
WHO WE ARE
ABOUT US
Ferda
BESLİ
Ferda Besli is the founder and managing partner of Besfin. Mr. Besli, a graduate of the Faculty of Economics of Istanbul
University and earned the title of inspector in 1989. Mr. Besli started his professional career at Akbank T.A.Ş in 1987.
He has served as an Internal Auditor and Branch Manager, followed by his post as Manager in charge of Corporate
Banking and Senior Vice President in charge of Commercial Banking. In 2006, he was appointed as Executive Vice
President in charge of Commercial Banking. Mr. Besli served as Executive Vice President of Commercial and SMEBanking of Akbank T.A.Ş after 2010. He also served as a member of the Preliminary and Asset-Liability Committees of
the Bank. After his retirement in 2011, he established Besfin.
SERVICES
His specialized areas are;
•
Corporate Finance,
•
Project Finance,
•
Bank Relations and Credit Management,
•
Strategic Marketing,
WHO WE ARE
When working at Akbank, Besli engaged in an internship at Deutsche Bank, one of the worldwide leading financial
institutions. Besli continues to participate in numerous domestic and international training programs on sales, marketing
and corporate finance. Which he was participated in was “Customer Focused Marketing Strategy” at London Business
School.
Mr. Besli is member of Centre for European Policy Studies (CEPS), the European Institute of the Mediterranean
(IEMED), The World Future Society (WFS), Chatham House with Turkish Industry and Business Association (TÜSİAD)
and many other social organizations.
Ece Taştan started her banking career at Akbank in 2001. Miss Taştan has served at several departments for 10 years
and her final post was Manager in charge of Business Development and Project Finance before joing Besfin in 2011.
REFFERENCES
During her banking career, she worked as respectively; Commercial Branch Portfolio Manager, Commercial Banking
Marketing Manager and finally Manager of Business Development and Project Finance. Ece Taştan is specialized on
project financing, financial modeling and company valuation.
Ece Taştan who is a graduate of METU,Department of Economics, participated in many training programs which are
related to Investment Banking, Merger and Acquisitions, Ship Finance in both home and abroad. Ece Taştan holds
Capital Markets Activities Basic Level License, Capital Markets Activities Advance Level License and Derivate
Instruments License as well.
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Ece
TAŞTAN
13
After serving for a period of 9 years at Akbank T.A.Ş, where he worked finally as Commercial Banking Marketing and
Sales Manager, Oğuzhan Serintuna joined Besfin in 2012. From commercial portfolio management in a commercial
branch to management at the commercial banking division and from performance monitoring to budgeting, he worked in
various areas.
ABOUT US
Oğuzhan
SERİNTUNA
Being a graduate of Koç University, Department of Mathematics and Anadolu University, Department of Business
Administration, he has a Master's Degree in Capital Markets and Stock Exchange. He also has the Capital Market
Activities Basic Level License, the Capital Market Activities Advanced Level License and Derivatives License.
Hasan Çağlayan graduated from the Faculty of Economics of Istanbul University, after completing high school at Robert
College. Mr. Çağlayan who served at automotive, textile, transportation, publishing sectors, had been working on hotel
investment for last 24 years before joined Besfin in October 2012.
WHO WE ARE
He worked at department of financial feasibility, concept, strategic planning at many prestigious companies such as
Netsel Marmaris Yacht Por, Robinson Select Club Maris, both of Four Seasons Hotels in İstanbul, Uzel Group, Martı
Otel. Hasan Çağlayan had board membership of Pegasus Airlines while Pegasus was operating unscheduled
transportations.
Additionally, he publishes articles and participates in several programs as a speaker by evaluating his work experience
under ’’the value focused management ’’ and ‘’asset management” topics.
REFFERENCES
T
Hasan
ÇAĞLAYAN
SERVICES
He participated in various training programs including marketing, evaluation of economic data, financial analysis and
project financing.
14
REFFERENCES
REFFERENCES
ABOUT US
Private Investment Firm
Power Equipment Industry
Construction and Real
Estate Sector
Marketing and Distribution
Construction and Real
Estate Sector
Bahçıvan Gıda
BİRLİK Toptan Satış
Mağazacılık
Food Sector
Doğan Lastik
Doruk Group
Rubber Industry
Food and Agro Industry
Retail Sector
REFFERENCES
BORSAN Kablo Elektrik
Aydınlatma
ASTAY Gayrimenkul
İnşaat
ARTAŞ
WHO WE ARE
Aluminum Industry
Marketing and Distribution,
Retail, Agriculture and Gas
Station Management
Akyürek Pazarlama
SERVICES
ASTAŞ Alüminyum
Akyürek Kardeşler
Doruk Tarımsal
Yatırımlar Holding
Agro Industry
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Access TURKEY
15
ABOUT US
Dumankaya
Food Industry and Foreign
Trade
Bakery Production Industry
Construction and Real
Estate Sector
Floteks
Göbeklioğlu Medikal
Sistemler
Ece Banyo
Ceramic Sector
Plastic Industry
Dünyagöz Hastaneleri
Health Sector
WHO WE ARE
Doruk Unlu Lezzetler
Holding
SERVICES
Doruk Una Değer
Katma Holding
Gürbaşlar Otomotiv
Automotive Sector
Health Sector
REFFERENCES
HAMİTABAT TARIM
HAYVANCILIK
Livestock Farming
HASÇELİK
Iron-Steel Sector
İNCİ Ecza Deposu
İSMAR Marketler Zinciri
Health Sector
Retail Sector
T
HAMİTABAT
16
ABOUT US
13th Biggest Project of
Turkey
Construction and Real
Estate Sector
Construction and Real
Estate Sector
Construction and Real
Estate Sector
Kosifler Group
MARNAK Lojistik
MESA Mesken
MOPAŞ
Automotive, Tourism and
Insurance Sector
Logistics Sector
Construction and Real
Estate Sector
Retail Sector
NOVA Reklam
Olgunçelik
PERMAK Group
RENA İnşaat
Advertisement Industry
Iron-Steel Sector
Machine Industry, Energy,
Real Estate, Food Industry,
Textile and System Tech.
Construction and Real
Estate Sector
REFFERENCES
Keleşoğlu Group
WHO WE ARE
Kapıcıoğlu İnşaat
SERVICES
Kar İnşaat
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İstanbul TEMA PARK
17
ABOUT US
TAXIM Edition
Taypa
Construction and Mining
Sector
Textile Sector
Entertainment Sector
Textile Sector
Tekno Kauçuk
YES Oto
Yılka Kablo
Rubber Industry
Car Rental Service
Conductor Industry
WHO WE ARE
Tanrıverdi
SERVICES
STFA
Yeşilyurt Group
REFFERENCES
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Iron-Steel Sector, Shopping
Mall and Harbor
Management
18
Besfin Finansal Hizmetler
Danışmanlık ve Tic. A.Ş.
Tel: +90 212 609 83 50
Faks: +90 212 609 83 49
Financial
Check-Up
Boad of
Management
and Executive
Board
Consultancy
Capital
Structure
Management
Avrupa Rezidans
Karayolları Mah. Abdi İpekçi Cad.
No:30 27. Kat 34250
Küçükköy Gaziosmanpaşa İSTANBUL
[email protected]
www.besfin.com
Bank Relations
and Credit
Management
Company
Valuation
Corporate Finance
Specialist
Merger and
Acquisition
Consultancy
Financial
Assestment and
Rating Report
Financial
Modelling and
Investment
Project
Analysis
Long and Short
Term Financial
Planing
19