BC Partners to sell half of its stake in Migros to Turkey’s Anadolu-Reuters

(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.

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.