Migros owner considers sale options

LONDON - Reuters

London-based private equity firm BC Partners has hired to bankers to review options for its stake in Turkish retailer Migros and a sale might be in the cards, two people with knowledge of the matter said.

JP Morgan and Bank of America, two banks that have been working closely with BC Partners since the firm’s acquisition of Migros, Turkey’s largest supermarket chain, in 2008, are mentoring the firm about future steps. There is no decision about the 80 percent stake controlled by the equity firm yet, the sources said.

The possibility of stakes being put on the market might draw huge interest from several foreign and local investors operating in the retail sector.U.S. retailer Walmart was reported to be in talks to buy BC Partners’ stake in Migros by Financial Times. In a December report, FT had claimed the deal was expected to value Migros at more than $4 billion including debt.

Another potential bidder would be Turkey’s Sabancı holding, which acquired the driver’s seat in Carrefoursa in May. The group had said the company was looking for acquisition opportunities in the market including Migros.