DIA has completed the sale of its Turkish operations (Diasa Dia Sabanci Süpermarketleri Ticaret A.?) to Yildiz Holding A.? and SOK Marketler Ticaret A.?, as was agreed in April 2013.
DIA sold its 60% stake to Yildiz Holding for TRY77.8 million, which at current exchange rates equates to €30.9 million. According to DIA, the price was calculated taking with reference to 'the enterprise value of DIA Turkey of TRY320m (€136.5m), the net financial debt and its working capital'.
DIA has been operating in Turkey since 1999 through a joint venture with its partner Haci Ömer Sabanci Holding A.?. DIA has four warehouses and 1093 stores in the region, of which 614 are owned and 479 are franchised. (2 July)
© 2013 - ESM: European Supermarket Magazine by Ellen Lunney
