Turkish builder buys out Ramstore retail chain for EUR 389m

By A staff reporter 2007-09-13T00:00:00+01:00

Migros Turk has agreed to sell a 50% stake in Russian retail chain Ramstore to Turkish developer Enka Insaat Sanayi for EUR 389 mln, Russian newspaper Kommersant reported on Wednesday. Enka already holds the other 50% of Ramstore, owner of 10 shopping centres and over 50 supermarkets in and around Moscow. The deal has yet to be approved by the Russian regulator.

Migros Turk has agreed to sell a 50% stake in Russian retail chain Ramstore to Turkish developer Enka Insaat Sanayi for EUR 389 mln, Russian newspaper Kommersant reported on Wednesday. Enka already holds the other 50% of Ramstore, owner of 10 shopping centres and over 50 supermarkets in and around Moscow. The deal has yet to be approved by the Russian regulator.

Enka Insaat Sanayi owns about 135,000 m² of office space in the Russian capital.