* Carrefour sells 12 pct stake in CarrefourSA for 60 mln
* Sabanci becomes majority shareholder with 50.8 pct stake
* Move ends suspense over Carrefour's plans in Turkey
(Adds details from statement)
PARIS, April 30 Carrefour, Europe's
largest retailer, said on Tuesday it was staying in Turkey but
selling a 12 percent stake in local venture CarrefourSA
to joint venture partner Sabanci Holding
for 60 million euros ($79 million).
After the deal, expected to close by July, Sabanci will
become majority shareholder with a 50.8 percent stake while
Carrefour will retain a 46.2 percent stake, the statement said.
The move ends months of suspense over the French retailer's
plans in Turkey, a country it entered in 1993, but where it
lagged bigger local players such as BIM and Migros Ticaret
"Sabanci Holding will thus lead the next stage of
development, putting its knowledge of the country and the market
at the service of its joint venture with Carrefour," the
Carrefour initially held 58.2 percent of CarrefourSA,
Sabanci 38.8 percent, with the remaining 2.2 percent publicly
Last year Sabanci had said it was not happy with the
performance of CarrefourSA, which operates 28 hypermarkets and
215 supermarkets in Turkey, generating sales of 1.1 billion
Carrefour had said it was reviewing the situation but had
not given any steer as to whether it would stay or exit Turkey.
Carrefour, the world's largest retailer after Wal-Mart
, sold 2.8 billion euros of assets last year, withdrawing
from Greece, Colombia and Indonesia to raise cash to revive its
ailing European hypermarket business and expand in key emerging
makets China and Brazil.
($1 = 0.7585 euros)
(Reporting by Dominique Vidalon; Editing by Elena Berton and