www.bloomberg.com - Asya Katilim Bankasi AS (ASYAB), an Islamic bank that’s part-owner of a grocery chain, gained for the first day in three after a U.S. buyout firm was said to be close to acquiring a stake in the retailer.
Asya shares rallied 1.6 percent to 1.96 liras at 5:08 p.m. in Istanbul. The deal values A101 Yeni Magazacilik AS at 900 million liras ($505 million), three people with knowledge of the matter said.
Capital Group International is nearing an agreement to buy 35 percent of A101, the people said. The retail chain has 1,075 stores in Turkey and is majority owned by the Aydin family. Asya has a 22 percent stake in the company, the people said. (source)
Goldman Sachs Group Inc. (GS) is advising on the sale, they said.
To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net
To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net
Source: http://www.bloomberg.com/news/2012-03-30/asya-up-as-buyout-firm-said-to-be-near-deal-on-part-owned-stores.html - March 30, 2012
