Wednesday morning the Competition Board announced that French cosmetics company Sephora will buy Turkish cosmetics giant Tekin Acar while the announcement was updated in the evening, noting that the takeover was limited to 19 stores.
Tekin Acar has 79 stores throughout Turkey. The decision was previously announced at the Competition Board with the title of "The acquisition of Tekin Acar Kozmetik Mağazacılık Tic. A.Ş.'s by Sephora Cosmetics Inc."
However, in the evening, the announcement was updated by the Competition Board. The completion of the transfer of 19 stores will take place after the approval of the Competition Board.
