Deals
Turkey’s Dunyagoz to Start Talks on Selling Stake to U.S. Fund
- Company chairman has been selling personal assets to pay debt
- Dunyagoz is Turkey’s biggest chain of eye care hospitals
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Turkey’s biggest chain of eye care hospitals plans to begin talks with a U.S. private equity firm on selling a stake of as much as 30 percent as it seeks to cut debt.
Dunyagoz Hastaneler Grubu, as the Istanbul-based chain is formally known, plans to restructure loans and is seeking to cut debt of 430 million liras ($127.7 million) by 250 million liras, Chairman Eray Kapicioglu said in a telephone interview on Monday. The company plans talks with the unidentified buyout firm in January to sell between a 25 percent and 30 percent stake and is also in talks with two U.S. hedge fund investors, he said.