DIA has agreed the sale of its Turkish business for some €136.5 million. Yildiz Holding and its retail subsidiary, SOK Marketler, will acquire the business from the Spanish discounter.
DIA has a 60 per cent stake in its Turkish operations, with the remaining share held by Sabanci Holding, which is also to sell its shares to Yildiz Holding.
The Spanish retailer is exiting the Turkish market after 14 years there. Its 1,093 stores generated gross sales of €469 million last year, making up about 4 per cent of group sales. (23 April)
© 2013 - ESM: European Supermarket Magazine by Sadhbh Connor
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