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Tesco to sell Kipa, Giraffe and exit Turkey

( June 10, 2016, 10:27 GMT | Official Statement) -- MLex Summary: UK retailer Tesco has agreed to sell its Turkish businesses Kipa and Giraffe. Tesco is selling its 95.5 percent stake in Kipa, which operates Tesco Kipa-branded stores across Turkey, to Swiss supermarket chain Migros. It will also sell the restaurant chain Giraffe to Boparan Restaurants Holdings. Tesco's decision to exit Turkey comes as the retailer focuses on developing in Central Europe and South-East Asia. The sales are pending regulatory approval from Turkish authorities.The full text of the statement is below:...

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