Carrefour has taken over 20 Migros and Kipa stores in Turkey | Progresiv

Migros and Tesco Kipa signed a contract with CarrefourSA for the transfer of the fixtures and lease contracts of 20 stores, 12 Migros Ticaret and 8 Kipa units.

Migros signed a share purchase agreement with Tesco Overseas, a UK based company, in June 2016 to take 95.5 percent of Tesco Kipa to 302.3 million liras. The Competition Board also allowed the takeover process in February.

According to the statements made by Migros and Tesco Kipa to the KAP, the transaction took place within the scope of the commitment package given by Migros to the Competition Authority.

The transaction is valued at 20 million Turkish Lira (4.77 million euros). (www.dunya.com)