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.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
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.
Kraftsa was the second joint venture between Sabanci and Kraft. In 1993 the groups created Marsa KJS to sell confectionery and coffee brands, soft drinks, margarine and edible oils.
