Turkish food group Yildiz Holding has reportedly seen formal takeover interest in dairy unit Ak Gida.

Reuters said Yildiz had received several offers for a stake in Ak Gida. The newswire, citing unnamed sources, said the bids could be worth US$950m.

It was unclear what size of shareholding is the subject of the offers. Last month, Yildiz applied to float up to 45% of the Ak Gida.

"The mandate for Ak Gida encompasses both a public offering and a sale to strategic investors. There is strong demand for the company from domestic and international strategic and financial investors," a source told Reuters.

According to Yildiz's website, Ak Gida operates five production facilities and generates a turnover of TRY1.6bn (US$608.9m) per annum. Yildiz said Ak Gida has a daily capacity of 4,000 tonnes, with an 11% share of the processed milk industry in the country.

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