Turkish food retailer Kipa has agreed to sell a stake in the company to UK supermarket giant Tesco.

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Back in August, Tesco announced it was in partnership talks with Kipa in a bid to increase its presence in developing markets.


Exactly how big a stake in Kipa Tesco might buy and the price of the deal are not yet known.


Kipa owns five supermarkets in the vicinity of Izmir, Turkey’s third-largest city, reported Reuters.


 

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