Kiler Alisveris Hizmetleri Gida Sanayi & Ticaret AS (KILER), a Turkish discount supermarket chain, rose to a five-month high after Haberturk newspaper reported owner Kiler Holding AS may offer a stake in the company for sale.
The shares added 3.5 percent to 3.58 liras, closing at the highest level since Oct. 31.
Kiler Holding, a group with holdings in retail and real estate, has investors interested in its supermarket chain and may start a sale process for the unit within a month, Haberturk reported without saying how it got the information.
“We expect consolidation will continue in the retail sector,” Istanbul-based brokerage Tera Brokers said in a report today. “Retail companies including Kiler and Uyum Gida Ihtiyac Maddeleri Sanayi & Ticaret AS (UYUM) are looking for acquisitions for expansion; however these companies are also candidates for acquisition.”
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