Croatian Tycoon Todoric Fails To Purchase Migros Supermarket Chain
February 14th, 2008
Zagreb, February 14 (CP) – The Turkish Koc Holding has sold 50.8 percent of the Migros supermarket chain to the Moonlight Capital company for $ 1.66 billion, thus snubbing the offer by the Croatian Agrokor company owned by tycoon Ivica Todoric.
Agrokor has fallen short of a stake in the Turkish company, which is currently estimated to be worth $3.32 billion and has improved its market value by 10 percent over the past week.
Migros is a Turkish supermarket chain comprising 953 stores across Turkey and covered 8.6 percent of the market at the end of 2006.
News Info: News in Business, Society, Tagged: Migros
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