A 42.7 percent stake of Mado, which had been in partnership talks with Qatar's Al Sraiya Holding Group for over a year, was finally sold.

Accordingly, Qatar's Al Sraiya and its Bahrain subsidiary Venture Capital purchased Mado through the Turkish Cafe Company S.A.R.L, based in Luxembourg.

According to the Competition Board's announcement, 42 percent of shares representing the capital of Yaşar Dondurma ve Gıda Maddeleri A.Ş. was taken over by Turkey Café Company S.A.R.L.

Speaking to Dünya daily on the purchasing process, Mado General Manager Gürol Çıragöz said they have 250 branches in 20 countries and that they aim to increase this further and become a global player. "This partnership will help us realize these goals," he added.

The company, which was founded in 1850, has branches in Australia, Dubai, Beirut, Hong Kong, South Korea, Cyprus, Kuwait, Saudi Arabia, Malaysia, Azerbaijan and Iraq.