UPDATE 1-Koc mandates JP Morgan to assess Migros options

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ISTANBUL, June 18 (Reuters) - Turkish conglomerate Koc Holding (KCHOL.IS) said on Monday it had mandated JP Morgan to assess strategic alternatives for its supermarket unit Migros MIGRS.IS, including a stake sale. The Koc announcement, in a statement to the Istanbul Stock Exchange, follows market speculation about the future of the retail unit. Koc said last month it was considering strategic options for its retail business.

Turkey's retail market is benefiting from strong growth in the country's economy since a financial crisis in 2001 and has attracted growing foreign investor interest.

"Investment bank JP Morgan Plc has been mandated to assess all forms of strategic alternatives for Turkish retail sector leader Migros Turk TAS, including a stake sale," the statement said.

British retailer Tesco (TSCO.L) has entered the Turkish market through its Tesco Kipa (KIPA.IS) subsidiary but it said last month it was not in talks with Migros.

Carrefoursa (CARFB.IS), a joint venture of French retailer Carrefour (CARR.PA) and conglomerate Sabanci Holding (SAHOL.IS), denied earlier this month it had made an offer for Migros after a report said it was interested.

Migros's consolidated net profit jumped 69 percent in the first quarter of this year to 32.66 million lira ($24.55 million), while its net sales also rose 14 percent to 1.09 billion lira.

((Writing by Daren Butler, editing by Quentin Bryar; Reuters Messaging: daren.butler.reuters.com@reuters.net; email: turk.newsroom@news.reuters.com; Tel: +90-212-350 7057, fax: +90-212-350 7005)) Keywords: MIGROS MANDATE/ =2 ISTANBUL

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