BC completes Migros Turk buy

BC Partners, a UK-based buyout house, has completed its purchase of a 50.8% stake in Turkey’s largest supermarket chain Migros Turk from Koc Holding.

The transaction, announced in mid-February, represents a market cap of YTL3.8bn (US$3.15bn). A tender for the remaining shares listed on the Istanbul Stock Exchange will now be launched with a view to de-listing the group.

Minority investors in the transaction include Turkish private equity firm Turkven Private Equity and DeA Capital, a Milan Stock Exchange-listed investor.