January 1, 2015 / 12:05 AM / 4 years ago

BC Partners to sell half of its stake in Migros to Turkey's Anadolu

(Reuters) - Private equity firm BC Partners [BCPRT.UL] said on Wednesday it will sell a 40.25 percent stake in its supermarket chain Migros (MGROS.IS) to Turkish conglomerate Anadolu Endustri Holding AS.

Anadolu will pay 6.4 billion lira ($2.74 billion) or 26 lira ($11) per share, a premium of 14 percent to Migros’ close on Wednesday.

Anadolu offered to buy a stake in Migros from BC Partners in October for 26 lira per share, representing a premium of 36 percent to Migros’ closing on Oct. 2.

Migros was acquired in BC Partners in 2008 for $3.25 billion with the help of Turkey's Turkven and Italy's DeA Capital (DEA.MI), beating a bid by larger rival Blackstone Group (BX.N) and Croatian food group Agrokor. (reut.rs/1rQyV1n)

Bank of America Merrill Lynch and JPMorgan Chase & Co advised BC Partners on this transaction.

Shares of Migros closed at 22.75 lira on Wednesday on the Istanbul Stock Exchange.

Anadolu could not be reached immediately outside regular business hours.

($1 = 2.3324 liras)

Reporting by Rishika Sadam in Bengaluru; Editing by Lisa Shumaker

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