Turkey's retail giant is being sold

Sabancı Holding, one of Turkey's largest conglomerates, had placed the option of selling subsidiaries with low net profit margins and limited return on equity on its agenda during a senior management meeting held in October. In this context, work has begun on different scenarios for CarrefourSA and Teknosa.

TURKEY'S RETAIL GIANT MAY BE SOLD IN TWO PARTS

According to information reported by Merger Market, negotiations are being conducted with A101 and Anpagross for the transfer of CarrefourSA's supermarket and hypermarket networks. Under the planned model, it is envisioned that the supermarkets will be sold to A101 and the hypermarkets to Anpagross.

MINI MARKETS ARE NOT INCLUDED IN THE SALE

It was stated that the mini markets within the CarrefourSA structure are not included in the potential sales plan during the ongoing negotiations. Following the reflection of these claims in the public domain, there was a notable rise in CRFSA shares traded on Borsa Istanbul.

CARREFOURSA SHARES HIT THE CEILING

While CarrefourSA shares closed the final trading day of the week at the ceiling level, a final decision regarding the ongoing negotiations is expected to be clarified in the coming days.

News Source: 12punto