Mayhoola for Investments OPC of Qatar focus on local and global investments is to acquire Turkish retailer Boyner Perakendeâ€™s 30.7 percent for 885 million lira. This would mark an entry to Turkey for the Qatari-royal-family investor, which has been expanding its global presence.
Boyner Group Chairman and CEO Cem Boyner welcomed the move, through partnership with Mayhoola they plan to strengthen their capital to be able to finance their future investment goals.
The Boyner Group hosts scores of cornerstone retail brands, such as the high end clothing brands Beymen and Network as well as AltÄ±nyÄ±ldÄ±z, along with department store Boyner, which is registered under the Boyner BÃ¼yÃ¼k MaÄŸazacÄ±lÄ±k, a subsidiary of Boyner Retail.
In 2012, Mayhoola acquired Italian Fashion house Valentino Fashion Group for around EUR 700 million. The current agreement with Boyner Group is awaiting approval by the Competition Board (Rekabet Kurumu).
In a statement on the deal Mayhoola underlined that its strategy for the deal was to have Boyner brands grow in Turkey and expand to international markets.
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