September 25 (SeeNews) - Turkey's Capital Markets Board (SPK) said it has approved the proposed tender offer by conglomerate Sabanci Holding [BIST:SAHOL] to shareholders of its local retail unit Carrefoursa Carrefour Sabanci Ticaret Merkezi [BIST:CARFA].
SPK said in its bulletin published on Tuesday that it cleared Sabanci Holding to make the offer at prices of 10.36 Turkish lira ($5.16/3.82 euro) per A type share and 17.74 lira per B type share of Carrefoursa.
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Sabanci Holding was obliged to make a tender offer to Carrefoursa's minority shareholders after it became a controlling shareholder in Carrefoursa with the acquisition of a 12% stake in the company from Carrefour Nederland in July.
(1 euro = 2.7109 Turkish lira)