Migros sells its "Ramstore" in Azerbaijan to Intersun Holding

Turkish Migros Trade Company has sold its Ramstore’s share to Intersun Holding (UAE), according to the Turkish media.

Migros Ticaret AS (MGROS TI), Turkey’s biggest supermarket chain, rose 90 kurus, or 2.6%, to 35.90 liras. The company signed an agreement to sell its Ramstore MMC unit in Azerbaijan for $14.3 million to Dubai-based Intersun Holding FZCO, Migros said in a statement to the exchange today.

According to Migros General Director Omer Ozgur Tort, their interest in markets like Kazakhstan increases: “We decided to withdraw from Azerbaijan”.


/APA/