Planet Retail 28 Jan 2008

At the end of last week, Tesco announced plans to invest about GBP750 million (USD1.5 billion) tripling the size of its business in Turkey to more than 150 stores over the next five years. The retailer said it wanted to significantly increase its number of hypermarkets in Turkey and to break into Istanbul.. The expansion of the Tesco Kipa chain is expected to boost its revenues to USD5 billion once the new stores are operational, spokesman Gurcan Onol told a news conference. A spokesman said: "Turkey is a fast-growing and exciting market and we are delighted with how the business is performing. Entering Istanbul - the biggest city in the country - will bring Kipa quality and value to many more Turkish customers."

Planet Retail 7 Nov 07

According to unconfirmed reports in the Turkish press, Ahold ICA, Carrefour, Alfa Group from Russia and local firms Kiler and Ulker have made non binding bids for Migros Türk. The deadline for preliminary bids was Monday of this week.

Planet Retail 22 Aug 07 

On the same day as announcing its market exit from Switzerland, Carrefour yesterday revealed that it is "seriously" interested in purchasing Migros Türk in Turkey. "As Carrefoursa, we are seriously interested in the sale of Migros," Sabanci Holding Chief Executive Officer Ahmet Dorduncu told reporters, adding that the company did not expect competition rules to stand in the way of a deal. Sabanci is Carrefour's joint venture partner in Turkey.

The region Eastern Meditteranean and Middle East, coordinated from Akdeniz University in Turkey, has released its first bulletin in Turkish.

Planet Retail 30 July 2007 

According to unconfirmed reports in the Financial Times, Carrefour is interested in possibly acquiring all or part of Turkish group Migros Türk in conjunction with its local joint venture partner Sabanci Holding. The report states that Carrefour's disposal of its Portuguese hypermarket network last week and the potential expansion in Turkey is part of its strategy of selling what the retailer sees as weaker assets in its portfolio of international businesses and to put those resources into more-promising areas.

Planet Retail 11 April 2007

According to Retail News Middle East, Carrefour has confirmed that Majid Al Futtaim Retail, its franchise operator in the Middle East, is looking at Iran and Syria as possible markets for expansion of the hypermarket group. While Carrefour refused to reveal further details, sources close to the company said that the group's first Iranian outlet is expected to open in mid-2008 in Tehran, and added that Carrefour is already in discussions with some of its key suppliers to determine which products will be available at the store.

Planet Retail 27 December 2006

Roughly a month later than originally expected, Carrefour has finally opened its first store in Jordan through Carrefour Amman, a joint venture between Carrefour and its Middle East parter Majid Al Futtaim. The outlet is centrally located in the capital city Amman, at Jordan's largest shopping centre City Mall, and trades from 10,200 square metres.

PlanetRetail.net 9 November 2006

According to reports in the Turkish press, Tesco is in talks to acquire Migros Türk. Parent company Koç Holdings has denied the rumours stating that news reports claiming that "talks between retailers Tesco and Migros have come to a notable point" do not reflect the reality. Wal-Mart has also been linked to a possible takeover of the Turkish retailer in recent months

PlanetRetail.net 18 October 2006

According to reports in the Turkish press, citing the honorary chairman of Koç, Wal-Mart Stores is in talks to buy a stake in its retail business Migros Türk, "Wal-Mart is interested in companies around the world, and that includes us. Our people are talking with them." Rumours have been circulating for some time over a Wal-Mart acquisition of Migros Türk. Additionally reports in the Russian press this morning state that Wal-Mart Stores will acquire the Migros Türk owned Ramstore chain sometime in the next two years.

PlanetRetail.net 18 October 2006 

Tesco's operation in Turkey, Tesco Kipa, yesterday opened its 13th hypermarket in the country in Corlu. Chief executive Steve Hammet reiterated that the retailer planned GBP150 million (USD281.1 millon) investment next year and is targeting TRL1 billion (USD552.5 million) in sales revenue this year.