Bloomberg News

Kiler Rises to 5-Month High on Stake Sale Report: Istanbul Mover

April 09, 2012

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.”

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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