Bloomberg News

Dardanel Plunges 14% in Istanbul After Ending Sale Talks

May 03, 2012

Dardanel Onentas Gida Sanayi AS (DARDL), a Turkish producer of frozen and canned food, plunged the most since June 2008 after saying it ended stake sale talks with ADM Capital and Turkey’s Yildiz Holding AS.

Dardanel, which trades on the Istanbul Stock Exchange’s watchlist market for companies under heightened supervision, fell 14 percent to 1.26 liras at the close in Istanbul.

Dardanel ended stake sale talks after failing to agree with ADM and Yildiz on payments for its debts to banks and will continue to seek new partners and hold talks to restructure loan repayments, it said in a filing with the Istanbul bourse after the market closed yesterday.

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Benjamin Harvey at bharvey11@bloomberg.net


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