Tesco in talks over Uyum Gida stake

Tesco in talks over Uyum Gida stake

UK retailer Tesco has entered into talks to acquire a majority stake in Turkish retailer Uyum Gida.

A spokesperson for Tesco told just-food: "We are in initial talks with the majority shareholders of UG about acquiring their shares. This may or may not lead to an agreement."

The negotiations are being conducted through Tesco's local subsidiary Tesco Kipa. Tesco has 181 stores in 24 Turkish cities including Istanbul, Ankara and Izmir.

Uyum Gida operates 55 stores in Turkey, the majority of which are located around Istanbul.