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Tesco considers merging Turkish unit with BC Partners-backed Migros

25 Feb 2014

Turkey Turkish flagRetail giant Tesco is reportedly considering merging its struggling Turkish business with private equity-backed local retailer Migros.

Tesco said that it is in early-stage talks with several parties over restructuring options for its Turkish unit.

Last week the FT reported that one of the options was to merge the business with the country’s largest food retailer Migros, which is backed by BC partners.

Migros has said that BC Partners periodically evaluates options for its portfolio companies including Migros.

Last year it was reported that BC Partners was looking to exit its investment in Migros.

BC hired JPMorgan Chase and Bank of America to review options including a possible sale, according to a Bloomberg report.

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