Russia’s Alfa Group in talks to buy Turkish supermarket chain Migros
Russian conglomerate Alfa Group is in talks with Turkey’s financial-industrial Koc Holding to buy a controlling stake in supermarket chain Migros for an undisclosed sum, a Russian banking source said.
The Turkish holding controls 51% in Migros Turk Ticaret AS, which owns the Migros supermarket chain. Koc Holding also owns the network of Ramstore supermarkets in Russia. Migros Turk, founded in 1954, has a total of 961 supermarkets in Turkey and other countries.
Alfa Group, founded by Russian billionaires Mikhail Fridman and Peter Aven, has substantial interests in the supermarket business, with stakes in Russian supermarket chains Perekryostok and Pyatyorochka. The group also has major assets in oil and gas (TNK-BP), telecommunications (Vimpelcom), and investment banking (Alfa Bank). Last week, Sabanci Holding, the second largest industrial and financial conglomerate in Turkey after Koc, said it wanted to purchase Migros. (rian.ru)
ADVERTISEMENT
Minister Asks Banks to Introduce Voluntary Rate Caps
Gov't Raises 2023 Deficit Target to 5.2% of GDP
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
