Navigate this market better. Subscribe for FREE stock alerts and information.

Thursday, February 3, 2011

Yildiz unit, KKR to bid for Dogan Yayin assets, (GOZFN), (NYSE: KKR), (DYHOL)

Turkish foodmaker Yildiz Holding's unit Gozde Finansal Hizmetler (GOZFN.IS) said on Thursday it formed a consortium with U.S. private equity fund KKR (KKR.N) to bid for assets of leading media group Dogan Yayin (DYHOL.IS). Dogan Yayin, embroiled in a legal battle against tax fines imposed by the government, said in December that while it was selling media units it would not withdraw from the sector entirely. Sources had told Reuters on Tuesday that KKR had agreed with a Turkish partner to bid for the Dogan Yayin assets. [ID:nLDE7101DJ]

Source