The largest shareholder in Turkish retailer Migros Ticaret has revealed plans to sell part of its stake in the company.
In a regulatory filing today (7 April) MH Perakendecilik, which is owned by private-equity firm BC Partners, said it has hired JPMorgan Chase & Co. and Merrill Lynch to find buyers for some 26m shares, with the option to purchase 5m more.
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The shares account for a 17.4% stake in the retailer. The stake will not be sold on the Istanbul Stock Exchange and the sale price will be set according to demand.
Shares in the retailer were down 5.98% today to TRL33 per share at 14:16 EEST.
