Koç Holding A.S. (IBSE:KCHOL) is looking for acquisitions. Polat Sen, Chief Financial Officer said, "It's not earmarked for anything right now. That was the plan from the beginning.
And we are mainly keeping it for any possible acquisitions that may come up because when the time comes, you need the money. So our appetite for acquisition on M&A market is still there. We are looking for targets that would really fit to our expectations.
So -- and this amount, the EUR 600 million is needed for that. And also, we are always keeping a war chest, as you know, as positive net cash on our balance sheet for a long time, because going through turbulent times, this cash is keeping us safe from any ups and downs, let me say. So most probably, there will be waiting on our balance sheet until we find the right target to spend it for".
