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Turkish conglomerate Sabanci Holding denied on Monday that it had entered into binding negotiations to sell its stake in CarrefourSA, its retail joint venture with France’s Carrefour, which operates as one of Türkiye's largest supermarket chains.
The company emphasized in a disclosure submitted to the Public Disclosure Platform that no final or concrete decisions have been made regarding the disposal of shares or the restructuring of the retail chain's operations.
Sabanci Holding said it follows an approach centered on long-term value creation, with a focus on capital efficiency, portfolio returns, and sustainable growth across its subsidiaries. The group also confirmed that it regularly reviews strategic alternatives for its portfolio companies, including options such as expansion, transformation, operational and financial performance improvement, and potential exits.
However, Sabanci stated that "the claims circulating in certain channels regarding the division of CarrefourSA's operations or the sale of store groups do not reflect the truth."
The statement follows a report last week by business intelligence platform Mergermarket, which claimed that Sabanci Holding was in talks with Turkish discount retailer A101 and wholesaler Anpagross to divide and sell off CarrefourSA’s operations.
The report suggested that A101 was interested in acquiring the supermarket segment, while Anpagross was eyeing the hypermarket portfolio.
CarrefourSA, a joint venture formed in 1991, is 57% owned by Sabanci Holding. The company operates more than 1,250 stores in 71 provinces across Türkiye and employs over 10,000 people.
As of the last quarter, CarrefourSA reported ₺35.09 billion ($824.1 million) in total assets and ₺34.47 billion in liabilities, with a debt-to-equity ratio of 60.3. For the period between January and September, the company posted a ₺4.7 billion ($110.06 million) net loss, despite generating ₺60.39 billion ($1.41 billion) in revenue.
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