U.S.-based buyout shops Kohlberg Kravis Roberts & Co. and TPG Capital are on the short list of potential buyers for the assets of Turkish media group Dogan Yayin, Reuters reported. Time Warner is also among those shortlisted for the sale, Reuters said. The starting price for the properties is estimated between $1.6 billion and $1.8 billion, Reuters said.
(Reuters) – Time Warner, and U.S. private equity funds, KKR and TPG [TPG.UL], are on a short list of potential buyers of assets belonging to Dogan Yayin , Turkey’s biggest media group, sources familiar with the deal said on Wednesday.
The starting price for the properties on sale is seen starting at $1.6 billion and $1.8 billion, according to the sources.
Hurriyet newspaper, Dogan Yayin’s biggest-selling daily, is not among the current group of assets for sale, the sources said.
None of the companies, including Dogan Yayin, were available for immediate comment.
Dogan Yayin shares rose as much as 2.5 percent to 2.05 liras at 0815 GMT, and parent company Dogan Holding , gained 1.8 percent to 1.15 liras.
Dogan Yayin, embroiled in a legal battle against crippling tax fines, said last month that while it was selling media units, it would not withdraw from the sector entirely.
In October, the company’s parent, Dogan Holding , sold its controlling stake in fuel retailer Petrol Ofisi to Austrian group OMV , its joint venture partner, for 1 billion euros ($1.34 billion).
(By Seda Sezer and Birsen Altayli; Editing by Simon Cameron-Moore and Louise Heavens)