"We can talk about a sale price definitely higher than (discount retailer) Sok, which was sold for 600 million lira ($350 million). For A101 I expect the sale price to be from 800 million lira up to 1 billion lira," a source close to the deal said.(source)
"After the pre-selection the final bidders will be shortlisted," that source said.
Another source also confirmed the potential buyers and the timetable.
Turkish supermarket chain Migros in June agreed to sell its discount supermarket unit Sok to Gozde Finansal and Bizim Toptan for 600 million lira.
The Sok sale price was cheap, analysts said after the deal was announced, comparing it to listed discount retailer BIM , which has a market value of $5.13 billion.
A101, founded in 2008, has 1,075 stores and is targeting 2,000 by 2015, according to its website.
Sok has 1,252 stores in 70 of Turkey's 81 provinces, according to its website.
Turkish Islamic lender Bank Asya has a 21.84 percent stake in A101. The bank said in March that it will participate in a stake sale to foreign investors.
The Aydin family has a majority stake in the retailer.
A101 board member Ayhan Aydin told Reuters last year that the group could consider having a foreign partner.
Credit Suisse is managing the sale. ($1 = 1.710 Turkish Lira) (Editing by David Cowell)
