July 21, 2017 / 1:55 PM / a year ago

Member of Turkey's Sabanci family to sell 2.5 pct stake in firm -filing

ISTANBUL, July 21 (Reuters) - A member of the founding family of Turkey’s Sabanci Holding has elected to sell a 2.5 percent stake in the industrial and financial conglomerate on the Istanbul stock exchange, a regulatory filing showed on Friday.

Ozcan Sabanci has applied to sell 51.5 million shares in Turkey’s largest conglomerate, according to the filing. The shares were worth around 589 million lira ($167 million) as of Thursday’s close.

The sale would be the latest by a member of the Sabanci family since Turkey’s BIST index started hitting record highs this year. In May the Sabancis and the founding family of rival conglomerate Koc Holding sold a combined $580 million in shares of their firms. ($1 = 3.5267 liras) (Reporting by Can Sezer and David Dolan; Editing by Ece Toksabay)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below