ISTANBUL - Turkey`s Sabanci Holding
According to an income statement to Borsa Istanbul (Turkey`s main stock exchange), the conglomerate’s consolidated sales witnessed a 15 percent increase in the last year, reaching 24 billion lira ($11 billion).
Sabanci Holding’s Chief Executive Officer, Zafer Kurtul, said that the company has invested more than 6.6 billion lira ($3 billion) in Turkey’s electricity sector over the last year, buying two electricity providers from the Turkish government.
Kurtul also said that Sabanci Holding bought a 50.8 percent stake in Carrefoursa, a joint venture company between Sabanci Holding and Europe’s largest retailer, Carrefour, who has a 46.2 percent stake.
“Sabanci Holding`s will thus lead the next stage of development, putting its knowledge of Turkey and its market to good use along with its strong management structure,” he added.
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