(MENAFN) Abraaj Capital, the Dubai-based private equity group, has purchased a stake in Turkey's largest online retailer amid growing investor interest in the country's increasingly internet-savvy population, Gulf News reported.
Abraaj has acquired 25 percent of Hepsiburada, in a deal that values the stake at more than USD400 million, said people familiar with the matter.
The purchase will place Abraaj alongside Turkey's Dogan family, who control one of the country's largest conglomerates, as owners of the ecommerce business. Hepsiburada reported USD408 million in sales in 2014, having grown 25-fold over the past decade.
The Dubai-based group's investment will be used to expand operations and consolidate the warehouse network of Hepsiburada, whose name translate as "it's all here".
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