Kipa

Turkey's Competition Authority has approved Migros Ticaret A.Ş.'s acquisition of 95.5 percent of the shares of Tesco Kipa, the purchaser said in a statement late on Feb. 9. 

Turkish retail chain Be?endik, which also owns Real hypermarket stores in the country, has applied for a suspension of bankruptcy, with a court deciding to appoint trustees as a measure.

Tesco's subsidiary in Turkey has decided to hang onto some of its stores instead of selling them to rival Turkish retailer Be?endik after their performance improved strongly, it said on Jan. 2.

Be?endik's chief executive said in September that the company planned to buy 10 stores from Tesco Kipa as part of expansion plans that could ultimately lead to a stock market listing.

Turkish retail chain Be?endik, which bought 12 stores of Europe's supermarket chain last year, plans to complete the acquisition of 10 Tesco Kipa stores in Turkey by the fourth quarter, as many foreign retail chains have left Turkey in recent years as they had difficulties competing with local players. 

Kahramanmara?-based Maren Mara? Elektrik in southern Turkey has been named the fastest growing company in Turkey with a growth rate of 8,754 percent between 2011 and 2013 in a national ranking made by the Union of Chambers and Commodity Exchanges of Turkey (TOBB).

The company, owned by Kipa? Holding, mainly focuses on geothermal energy.