Doğan Holding signs preliminary protocol to sell book, music retailer D&R to Turkuvaz

ISTANBUL

Doğan Holding has said it signed a preliminary protocol with Turkuvaz TK Kitap to sell its book and music retail subsidiary D&R for 440 million Turkish Liras ($108 million).

In a statement to the Public Disclosure Platform (KAP) on April 13, Doğan Holding said the total amount would be paid in cash when the final agreement is signed.

D&R, founded in 1996, offers a unique service in hobby and culture retailing across a wide geographic area, its website said. There are 157 D&R stores in 30 provinces across Turkey.

The protocol came days after Doğan Holding sold its leading visual and print media components to Demirören Holding for a total value of $916 million.