Turkish conglomerate Sabanci Holding has denied reports that it is set to acquire Carrefour‘s stake in retailer CarrefourSA, the local venture between the two groups.

Sabanci, which has interests in the financial services, energy and automotive sectors, issued the denial in a statement after reports had said it was in discussions to buy Carrefour’s shares.

A spokeswoman from Carrefour said that as Sabanci had denied the claims the French retailer had no further comment to make.

At the end of June, the Turkish venture had 239 stores. According to details on Carrefour’s website, the venture had 27 hypermarkets and 212 supermarkets.