Turkey's Migros supermarkets up for sale
Koc Holding, Turkey's biggest industrial company, could put up for sale soon its majority stake in supermarket group Migros.
Likely suitors for the 50.8% stake would include Carrefour, Tesco and Metro as well as Turkish retailer BIM. Koc CEO, Bülent Bulgurlu, said Migros is not presently one of the group's core businesses, with a final decision on this due to be made in the next month.
Asked whether a continuation of this policy would mean Migros going up for sale, Bulgurlu said, "You will have to wait and see." Istanbul-listed Migros has a market capitalisation of US$2.2 billion.
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