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Turkish Retailer n11.com Hire Citi, BofA for Stake Sale

  • Owners also considering selling minority stake in the company
  • Trade in Turkey’s e-commerce industry rose 40% last year
relates to Turkish Retailer n11.com Hire Citi, BofA for Stake Sale
Photographer: Hall, Tom

Dogus Holding AS and an affiliate of South Korea’s SK Group hired Citigroup Inc. and Bank of America Corp. to weigh options for their Turkish online retailer, including a possible initial public offering.

The joint owners of Istanbul-based n11.com are also considering whether to sell a minority stake in the company this year ahead of the IPO, according to people with knowledge of the matter. The share sale may happen in 2021 in Istanbul or overseas, some of the people said, asking not to be identified because the talks are private.