One of Türkiye's major conglomerates, Sabancı Holding, said on Monday that claims circulating in certain news outlets regarding the division of its Carrefoursa operations or the sale of store groups "do not reflect the truth," sending its shares down.
The holding has not made any concrete, binding, or finalized decision regarding the divestment of its Carrefoursa shares, the company said in a statement at the Public Disclosure Platform (KAP).
However, it stated that Sabancı Holding adopts "a long-term value creation-focused approach that prioritizes capital efficiency, portfolio return, and sustainable growth for our subsidiaries."
"Within this framework, we regularly consider all strategic alternatives, including 'growth,' 'transformation,' 'improvement of operational and financial performance,' and/or 'exit,' for the companies in our portfolio," it said on KAP.
"The claims in these media outlets regarding the splitting of CarrefourSA's operations or the sale of store groups are untrue, and our company has not made any concrete, binding, or finalized decision regarding the divestment of CarrefourSA shares," it added.
In October, media reports suggested the conglomerate may consider divesting units with low net profit margins and returns on equity. A Reuters report at the time indicated that it could consider divesting technology retailer Teknosa and food retailer Carrefoursa, among others.
Latest Turkish media reports, late last week, alleged that Sabancı would sell its Carrefoursa stores to other local retailers such as A101 and Anpagross. The reports claimed that the company was already in negotiations and planned for the supermarket network to be sold to A101 and the hypermarket network to Anpagross.
Carrefoursa was established in 1991 through a partnership between the French retail giant Carrefour and Sabancı Holding.
Carrefoursa operated 1,225 stores, employing over 10,600 workers at the end of 2024, according to the financial information provided on its website.
Sabancı Holding said the public would be informed "of developments as they occur, in accordance with relevant legislation."
Shares of Carrefoursa plunged around 9% after market open, prompting a temporary halt of trading, while Sabancı Holding was down 0.81%.
