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.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.