by Daily Sabah with Agencies
Jan 04, 2016 12:00 am
CarrefourSA completed its merger with Kiler Alışveriş Hizmetleri Gıda Sanayi ve Ticaret A.Ş. and Kiler Ankara Mağazacılık Sanayi ve Ticaret A.Ş in accordance with the articles of the Turkish Commercial Code and the institutional taxation law, on the last day of 2015. The merger became effective through the announcement of the Public Disclosure Platform (KAP). Commenting on the acquisition of Kiler by CarrefourSA and the completion of the total merger process, the CEO of CarrefourSA Mehmet T. Nane said, "Following the acquisition of the administration of the CarrefourSA by the Sabancı Holding [one of the largest industrial and financial conglomerates in Turkey by profit], within the last two years, we achieved an organic growth rate by making many investments in various fields." In addition, Nane stressed that they managed to increase their growth rate through the utilization of purchase opportunities they had within the same period. The CEO also added that while they continue to utilize the current investment opportunities they have, they will also work to sustain their organic growth rate and to become one of the success stories that increase their value in the eyes of their shareholders. Furthermore, Nane expressed his hopes that the merger will result in new success stories. Meanwhile, the acquisition, which was announced in May 2015, became the third acquisition the CarrefourSA has carried out within a one year period. Prior to this acquisition, CarrefourSA purchased the 26 grocery stores of the Ismar Retail Chain as well as the chain stores called "1 e 1" consisting of 29 grocery stores in Antalya.