June 21, 2019 / 7:48 AM / 3 months ago

Qatar's Mayhoola to buy 43.91% share in Turkey's Boyner Perakende for $405 million

ISTANBUL (Reuters) - Qatari investment fund Mayhoola will buy a 43.91% share in Turkey’s Boyner Perakende, owned by Boyner Holding and the Boyner Family, for $405 million per an agreement in May, the company said on Friday, with a price of $1.40 per share.

In May, Boyner Holding said it had reached an understanding with Mayhoola, which owns Italian fashion house Valentino.

On Friday, the company said Boyner Holding would take over all shares in Boyner Magazacilik and Altinyildiz for a price ranging from 354 million lira ($61.27 million) to 417 million lira ($72.17 million).

($1 = 5.7780 liras)

Reporting by Ceyda Caglayan; Writing by Tuvan Gumrukcu; Editing by Jonathan Spicer

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