TURKEY: Tesco in talks over Turkish arm
Tesco has 191 stores in Turkey, according to its website
Tesco Kipa, the Turkish unit of the UK retailer, has today (24 February) confirmed its parent is in talks over possible options for the future of the business.
"Tesco plc is in the early stages of negotiations with different companies over different options," Tesco Kipa, which is listed in Turkey, said in a statement to the Borsa Istanbul.
The announcement followed speculation late last week that Tesco was weighing up its options for its Turkish business.
Sales have been falling and some in the City said Tesco, after exiting Japan and the US, as well as selling control of its Chinese business, could look at a transaction for its Turkish arm.
The Financial Times said on Friday (21 February) Tesco had held talks with private-equity firm BC Partners, majority owner of Turkish chain Migros Ticaret, about combining their assets.
"We don't comment on rumour or speculation," a Tesco spokesperson told just-food late on Friday.
In another statement to the Borsa Istanbul this morning, Migros Ticaret, responding to the speculation on Friday, said: "As a private-equity company, BC Partners periodically assesses alternatives for all its existing investments, including Migros, as part of the normal flow of its activities."
Migros wants to strengthen its strong position in Turkish retailing, and to be a strong, regional retail chain, which ranks either first or second in the countries in which it operates. In line with i...
Tesco Corporation - Strategy and SWOT Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis, product and service offeri...
Renovation costs following a fire at Rowe's Cornish Bakers factory in Falmouth "could cost" in the region of GBP2m. ...
This is a detailed report covering Tesco’s store formats, private labels, history, key employees, and key financial and operational metrics in Poland....
Project Synopsis: MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity unde...
- M&A Watch: Raisio should sell to private equity
- Infographic: Snapshot of Japan's food sector
- On the money: Solid Lindt outpaces chocolate peers
- Spotlight: What could be impact of Russia's ban?
- On the money: Hain expects continued organic gains
- Russian government eases ban on food imports
- Pork Farms buys Kerry Group's pastry plants
- Kerry cools claim spreads move could hit jobs
- Profits up at chocolate group Lindt
- Japan's Sanyo takes stake in Olam's food biz
- New Strategies for offering Convenience in Food - targeting new occasions, best practice and new solutions
- David Chapman's Ice Cream Ltd in Packaged Food (Canada)
- Global Bakery & Cereals Market: Merger and Acquisitions May 2014
- Colombia - ISA Country Report
- Food Retail: Top 5 Emerging Markets Industry Guide