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African fund buys into retailer
SU Private Equity, an investment fund run by South Africa-based Standard Bank Group, acquired 20 percent of the shares of Bizim Wholesale Chain for an undisclosed sum.
The chain, a Turkish wholesale supplier, is a unit of Yildiz Holding, the Turkish company that bought Godiva chocolate last year. The Competition Board approved the sale Friday, […]
Alarko, Kiler win power auctions
The government auctioned two more electricity grids yesterday, as Alarko Holding and Kiler Group won the rights to operate grids in Konya and Erzurum regions for a total of $568.5 million.
Alarko Holding, a Turkish builder and power generator, won the auction to operate the electricity grid in the Konya region of central Turkey with a […]
Gulf-based investors in Turkey
- Kuwait Investment Authority has acquired Cevahir Business Center.
- Emaar Properties, owned by the Sheikh of Dubai El Maktoum, is planning a $5 billion-worth investment in Turkey by 2010, focusing on healthcare, shopping malls, hotel and real estate areas.
- Abraaj Capital, an investment firm specializing in private equity investments in the Middle East, North Africa […]
Corio buys Taurus shopping centre in Mersin
Dutch retail investor, Corio, has purchased the 27,000 sqm Taurus shopping centre in Mersin for 50 million euros from developer Acteeum. The sale, expected to reach completion in 2011, is expected to reflect a yield of 8%.
Source: Property Week Global
Tesco Kipa opens store in Istanbul
Tesco Kipa, a joint venture of supermarket chains British Tesco and Turkish Kipa, opens its first store in Istanbul. Tesco Kipa’s store in Kurtköy on the Anatolian side of Istanbul is the chain’s 28th hypermarket in Turkey. The new store, which cost Tesco Kipa some €7 million without rental fees, covers a total closed area […]
GDF submits highest bid in Turkish gas tender
Gaz de France submitted the highest bid of $232 million in a tender for the privatisation of the Izmit gas distribution company (Izgaz).
Under the tender, the whole of the gas distribution firm in northwestern Turkey will be sold off in a block sale. In the open auction session broadcast live by CNBC-e, local Zorlu Enerji […]
EnerjiSA obtains 1 billion euros in loans for power investments
Officials from EnerjiSA, Verbund and International Finance Corporation are facing the press in their meeting to announce a 1 billion euro loan. They all praised the liberalization attempts in the domestic energy market.
EnerjiSA, jointly owned by Sabanci Holding and Austrian power company Verbund, has signed a 1 billion euro financing package for the first phase […]
Kiler acquires 15 Yimpas stores
Kiler, a leading supermarket chain in Turkey with 153 stores in 15 provinces, has acquired retail chain Yimpas, which had been experiencing financial difficulties for the past several years.
In a statement released on Wednesday evening, Kiler Holding CEO Ümit Kiler noted: “This agreement must be seen as a part of our natural growth strategy. For […]
Elumatec M&C had the bid for Etiler Plot
Red Crescent Turkey’s plot in Etiler leased via public tender by Elumatec Machine from 35.5 m for 25 years. The plot size is about 2,500 sqm and Elumatec will construct mixed used development.
Source: Sabah
Trade up 12 percent in Turkey’s free zones in first half
Trade volume in Turkey’s free zones increased by to $13.3 billion in the first half of the year, an increase of 12 percent over the same period last year.
According to figures from the Undersecretariat for Foreign Trade, the Istanbul Leather Free Zone exported $3.3 billion of products in the first half compared to $3.1 billion […]
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