Doğuş Group invests in Asteras Vouliagmenis

Doğuş Group invests in Asteras Vouliagmenis


By Manolis Kostidis

Who is Ferit Şahenk who bought Asteras Vouliagmenis and Flisvos marine.

Doğuş Group is one of the biggest Investment Groups in Turkey that has become a “giant” during the last 11 years, in which AKP is in power. It owns, Garanti Bank, the biggest private bank in Turkey, 4 broadcast networks: NTV, STAR, NTV spor and CNBC-e, while at the same time it has a leading position in the tourist, construction and electric power sectors. To add to that, it’s the distributor for all vehicles from the Volksxagen Group in Turkey. In total, the Doğuş Group owns about 150 companies that employ 30.000 employees.

The Group has, mostly in the last few years, started using the turkish Mass Media in its ownership, to actively support the Erdogan government and since then it has grown even more, especially in the electric power sector, where it has been favored in many auctions. In 2011 many of the journalist, who worked for the NTV broadcast network and had opposed Erdogan did not manage to have their contracts renewed.

At the same time, it has now started to invest in eating establishments and has consequently bought many of Istanbul’s best restaurants, such as “Nusr-Et”, “Lacivert”, “Κiva” as well as the turkish Starbucks or “Kahve Dünyası” as they are known in Turkey.

Doğuş Group, through its subsidiary already owns 4 marines in the Aegean coast line and targets to expand to the rest of the Mediterranean, as seen by the investment in the Flisvos marine.

The turksih Group prefers to collaborate in its investments in the Greek market rather than proceeding in an autonomous manner. That was the case in the auction for Asteras Vouliagmenis. They believe that in this way they will moderate the reactions to the presence of a turkish investment Group in Greece.

The son who expanded his father’s Investment Group

The company’s owner is the fifty-year-old Ferit Şahenk, whose personal assets are about 23 billion dollars and is considered to be the Turk “Croesus”. He took over control of Doğuş Group when he was 37 years old, right after the death of his father and Group’s founder Ayhan Şahenk. Earlier, his father had him placed in many administrative positions of the Group’s companies.

However, when Ferit took control of the company it was in 2001 when Turkey was plagued with the worst financial crisis and so he found himself in a position where had to save a Group that was taking massive hits, especially in the banking sector. Acting fast, he merged three of the banks that were under the Doğuş Group control and through the action of other drastic means he managed, in a few years time, to not only rescue the Group, but to expand it even further by taking advantage of the rapid growth of the turkish economy.

Ferit Şahenk studied Financial and Human Resource Management in Harvard and graduated in 1997, top of his class.

He is married with Diana Şahenk with whom he has a daughter.