Page 76 - TURKRptFeb20

2017, AG Anadolu Grubu Holding became the indirect owner of 50% of Migros’ shares by becoming the sole owner of MH Perakendecilik. BC Partners’ indirect share in Migros is 23.2% through its subsidiaries.
A total of 26.8% of Migros’ shares are free-float.
9.2.5 Construction & Real estate corporate news
● Emlak REIT
Emlak Konut Real Estate Investment Trust targets TRY5.12bn in sales revenues (TRY708mn in Q1, TRY903mn in Q2, TRY1.6bn in Q3 and TRY1.9bn in Q4) and TRY1.13bn net profit for 2020, the company said in a stock exchange filing on January 20.
The company sold 2,056 independent real estate units in 2019, it said in a separate filing.
“The little punt in EKGYO, based purely on the decline in rates rather than its (highly dubious) quality, has been a rewarding little fizzer with an 8% spike since mid-last week. They upped NI guidance 30% above the mkt today and forecast revenues to climb from 3->5bn TRY in 2020... this company... is pure AKP [Justice and Development Party]... and mgmt was arrogant to the point of hubristic when I saw them last in Feb 2015 and I still remember now,” Rimmer said on January 21.
In 2018, the developer’s revenues and number of units sold stood at TRY6.08bn and 5,818, respectively, down from TRY6.6bn of sales and some 6,200 units sold in 2017.
9.2.6 Agriculture corporates
9.2.7 TMT corporates
In December, state-owned lender Ziraat Bankasi cancelled plans to acquire a majority stake in popular bakery chain Simit Sarayi after Erdogan expressed his disapproval of plans . Ziraat Venture Capital, part of Ziraat Bank, earlier in the month applied to Turkey’s Competition Board to acquire a 51% stake in Simit Sarayi but the application notice on the website of the Board were later removed without any explanation following Erdogan’s comments.
● Turkcell
76 TURKEY Country Report OUTLOOK 2020 www.intellinews.com