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Turkey

Turkey’s Anadolu Endustri Holding to acquire 40% of Migros supermarket chain

Jan 2, 2015, 12:42:16 PMArticle by Gabriel Hershman
share
January 2 (SeeNews) - Private equity firm BC Partners has signed a share transfer deal with Anadolu Endustri Holding to seal the sale of a 40.25% stake in its supermarket chain Migros to the Turkish conglomerate, according to local media.

Turkey’s Anadolu Endustri Holding to acquire 40% of Migros supermarket chain

The parties concerned have agreed on the preliminary agreement that awaits the approval of the related agencies, reported Hurriyet on Thursday.

Migros was acquired by BC Partners in 2008 for $3.25 billion (2.69 billion euro) with the help of Turkey’s Turkven and Italy’s DeA Capital, beating a bid by larger rival Blackstone Group and Croatian food group Agrokor.

As of the end of October 2014, Migros operated 1,105 stores in Turkey, including 1,081 supermarkets and 24 hypermarkets, and 41 stores abroad.

Anadolu Endustri Holding A.S. describes itself as engaging in beverage, automotive, finance, retail, food, health, energy, electronic, information, and tourism businesses in Turkey and internationally.

$=0.829 euro)

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