Boyner Surges After Buying Turkish Store Chain: Istanbul Mover

Boyner Buyuk Magazicilik AS (BOYNR), a Turkish department store chain, surged the most in two months after its owners paid 190 million ($108 million) for rival store chain Yeni Karamursel, or YKM.

Boyner Buyuk, which runs 37 stores, climbed 7.3 percent to 3.24 liras at 1 p.m. in Istanbul, heading for the biggest gain since Nov. 30. YKM’s assets are equal to 51 percent of Boyner Buyuk’s assets, the company said in a filing with the Istanbul Stock Exchange said.

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