Bloomberg News

Boyner Surges After Buying Turkish Store Chain: Istanbul Mover

February 24, 2012

Feb. 24 (Bloomberg) -- Boyner Buyuk Magazicilik AS, a Turkish department store chain, surged the most in two months after its owners paid 190 million ($108 million) for rival store chain Yeni Karamursel, or YKM.

Boyner Buyuk, which runs 37 stores, climbed 7.3 percent to 3.24 liras at 1 p.m. in Istanbul, heading for the biggest gain since Nov. 30. YKM’s assets are equal to 51 percent of Boyner Buyuk’s assets, the company said in a filing with the Istanbul Stock Exchange said.

--Editor: Aydan Eksin

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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