TURKEY/UK: Tesco acquires Turkish hypermarket chain Kipa
UK supermarket giant Tesco has announced that it has gained control of Kipa, a small Turkish hypermarket chain, by acquiring the necessary majorities of the unlisted A shares and listed B shares. Tesco said the equity capital cost of 100% of Kipa is £75m debt free (US$124m), plus an additional payment in return for cash acquired on the balance sheet on closing.
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