Turkish industrial conglomerate Sabanci Holding has announced it will sell its 48.4% stake in Kraftsa Kraft Sabanci, its joint venture with US food giant Kraft Foods International. Sabanci will relinquish its stake, which has a nominal value of some 29.4bn Turkish lira (US$21,800) to Kraft. The joint venture was established early this year to distribute Kraft Foods' products in Turkey.