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.

Koç Holding said earlier this year it planned to sell its non-core businesses and had asked JP Morgan to advise on the sale of its retail operation Migros. Mr Dorduncu said that the sale process was expected to start in September. He also added that Carrefoursa could be interested in the Ramstore business in Russia.

Carrefour is reinforcing its presence in the Turkish market where it is number three retailer. It plans to open an average of 4 new hypermarkets on an annual basis between 2006 and 2008. To improve the profitability of its supermarket division, the retailer aims to increase the number of its Carrefour Express stores in the country to 100 this year. Finally in a bid to give an additional boost to its network development, Dia will continue to expand its network through franchise agreements.

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