Asya Up as Buyout Firm Said to Be Near Deal on Part-Owned Stores

Asya Katilim Bankasi AS (ASYAB), an Islamic bank that’s part-owner of a grocery chain, gained for the first day in three after a U.S. buyout firm was said to be close to acquiring a stake in the retailer.

Asya shares rallied 1.6 percent to 1.96 liras at 5:08 p.m. in Istanbul. The deal values A101 Yeni Magazacilik AS at 900 million liras ($505 million), three people with knowledge of the matter said.

Capital Group International is nearing an agreement to buy 35 percent of A101, the people said. The retail chain has 1,075 stores in Turkey and is majority owned by the Aydin family. Asya has a 22 percent stake in the company, the people said.

Goldman Sachs Group Inc. (GS) is advising on the sale, they said.

To contact the reporter on this story: Benjamin Harvey in Istanbul at

To contact the editor responsible for this story: Gavin Serkin at

Press spacebar to pause and continue. Press esc to stop.

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.