Alternative investment products provider and manager Investcorp and European private equity firm Permira are in the final stages of acquiring Turkish discount retailer A101, The Wall Street Journal reports. A101 has been valued at between €312.5 million and €390.6 million. The sale is being managed by Credit Suisse Group.
A101 is majority-owned by the Aydin family, with Turkish Islamic lender Bank Asya holding a 21.84 percent stake. Founded in 2008, A101 has 1,075 stores and is aiming to raise the number to 2,000 by 2015.
Click here for the story from The Wall Street Journal.