Dogan Yayin Holding AS, Turkey’s biggest media group, will sell the Milliyet and Vatan newspapers to Turkish businessmen Erdogan Demiroren and Ali Karacan, CNBC-e television reported.
Dogan Yayin said an agreement will be signed between the parties, the Istanbul-based news channel said.
Turkish media owner Aydin Dogan hired Goldman Sachs to find buyers for the assets of Dogan Yayin, which include TV channels and newspapers. TPG Capital and KKR & Co. LP were among companies shortlisted in the sale. Time Warner Inc. also has said it’s interested.
Dogan Gazetecilik AS, which runs Milliyet and Vatan, surged as much as 15 percent, the most in a year, and gained 13 percent to 4.67 liras. Dogan Yayin rose 6.7 percent to 1.91 liras, the biggest gain since Dec. 2.
Demiroren Group owns Milangaz, a Turkish gas distributor.