Turkish food group signs deal to sell yeast-making unit for €160m

Turkey’s largest food group, Yildiz Holding, has signed a deal to sell its yeast-making unit, Dosu Maya, to French company Le Saffre for €160m, Yildiz chairman Murat Ulker said.

He also said the group is in talks with a foreign fund to sell its 11% stake in Islamic bank Turkiye Finans.

Yildiz revenues last year rose 17%-18%, exceeding expectations for a rise of 13%-14%, Ulker also said.