Istanbul Deniz Otobusleri (“IDO”) is a ferry company that provides public transport to the people of Istanbul and the wider region surrounding the Sea of Marmara. IDO is one of the largest passenger ferry operators in the world, carrying over 48 million passengers and 10 million vehicles each year, whilst operating over 50 passenger and vehicle ferries.
IDO was purchased from the Istanbul Municipality, one of the few major privatisations to occur in Turkey in recent years. Souter Investments led a syndicate of UK investors that controls 30% of the equity in IDO. The remaining 70% is owned by our three Turkish partners.
In October 2020, Souter realised its investment in IDO.