PE Firms Among Bidders for Turkey’s Dogan Yayin

Private equity firms Apax Partners, Kohlberg Kravis Roberts & Co., and TPG Capital are among the bidders competing to buy the assets of Turkish media group Dogan Yayin, Reuters reported, citing an article in the Financial Times. There are at least six bidders in the race for Dogan Yayin, Reuters said, including Discovery and Time Warner.

(Reuters) – At least six international bidders are in the race to buy assets from Dogan Yayin , Turkey’s biggest media group, the Financial Times reported on Wednesday.

The FT, citing several people familiar with the matter, said six bidders were likely to come forward on Wednesday, when the deadline for second-round bids expires.

Discovery , RTL, and Time Warner were all bidding, with their main interest being TV channels Kanal D and Star, the FT said.

Private equity firms Apax, KKR, and TPG were interested in both the television and newspaper businesses, the paper said.

Dogan Yayin has not yet invited bids for Hurriyet, its top-selling newspaper, but banking insiders think it may be ready to part with it for the right price, the FT said.

Dogan Yayin, embroiled in a legal battle against crippling tax fines, said on Monday 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 ($1.3 billion). (Writing by Daren Butler; Editing by Dan Lalor) ($1 = 0.7454 euro)