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General Atlantic buys minority stake in Turkish yemeksepeti.com  Join our daily free Newsletter

MENAFN - 17/09/2012

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(MENAFN) US private equity firm General Atlantic LLC has purchased a minority stake in Turkish online delivery food company yemeksepeti.com for USD44 million, Reuters reported.

Yemeksepeti.com CEO Nevzat Aydin said the company would use the deal proceeds to expand its business outside the country.

He added that management of the firm would remain with its current partners.

Turkey's solid economic growth, high-spending young population and its location as portal to emerging markets in the Middle East and Central Asia has made it an attractive destination for private equity investors.

Turkey's 75 million population is set to overtake Germany's, currently the largest in the European Union, by 2025.

Per capita income has nearly tripled over the past decade, though the crisis in Europe has slowed growth this year.

 






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