Migros Ticaret A.Ş., the pioneer of organized retail in Turkey, has entered into a share sale and purchase agreement on 9 March 2021 to sell its 99% subsidiary Ramstore Macedonia DOO to City Plaza DOO Skopje. Ramstore Macedonia DOO is a supermarket chain operating in seven different cities in North Macedonia and owns a shopping mall. Migros will sell its shares in Ramstore Macedonia DOO through its 100% subsidiary; Ramstore Bulgaria EAD. The transaction is expected to close in the second quarter of 2021, subject to customary closing conditions and regulatory approval.
Paksoy is pleased to announce that a team led by Sera Somay (partner), Nazlı Bezirci (partner), and Gözde Zorlu (associate) advised Migros on this transaction.
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