Posted on 14 February 2011
American Bank Buys into Departmental Stores in Turkey
Citigroup to buy shares in Boyner, Beymen Citigroups, Venture Capital International (CVCI) will purchase 30 percent of Boyner and 50 percent of Beymen department stores. The talks following the letter of intent has been signed February 12, have been finalized. The total value of the Boyner department stores is set at $153,8 million for the purchase, while Beymen’s is set at $252 million.