Carlyle, Colony Capital Vie to Buy Retailer YKM, Milliyet Says

A stake sale by Turkish department store chain YKM attracted bids from three investors, including Carlyle Group, Colony Capital LLC and Turkven, and Is Girisim Sermayesi Yatirim Ortakligi AS, Milliyet reported, citing sources close to YKM.

Carlyle teamed with Esas Holding AS, a Turkish private equity investor, to buy 63 percent of Istanbul-based YKM, owned by Turkey’s Tan and Agrali families, the newspaper said. Colony Capital formed a joint venture with Is Girisim and Istanbul-based private equity firm Turkven is the third bidder, Milliyet said.

The sale process may be concluded in mid-November, the newspaper added.

To contact the reporter on this story: Ercan Ersoy in Istanbul eersoy@bloomberg.net.

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net.

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