Istanbul, Jan. 16 - Turkish conglomerate Koc Holding said on Wednesday talks were continuing on bids for its supermarket unit Migros after JP Morgan informed it about the bids.
Migros, which has been put up for sale by Koc, is the largest retailer in fast-growing Turkey with a market value of $3.4 billion.
Sources familiar with the situation had said the deadline for bids was last week, although Koc had not confirmed that.
"Talks are continuing on the bids in the framework of confidentiality agreements made with investors who have shown an interest in the process," the Koc statement to the Istanbul Stock Exchange said.
Last year Migros shares rose sharply on expectations of competitive bidding but were knocked 10 percent lower last week by the surprise withdrawal of France's Carrefour and Turkey's Sabanci Holding from bidding.
Sources familiar with the situation said last week Croatian food group Agrokor was in talks with private equity firm Blackstone with a view to bidding. The companies declined to comment on the report.
Agrokor, Croatia's biggest private company with revenues of $3 billion and a presence in Bosnia, Serbia and Hungary, said in November it was interested in Migros.
Other firms which have been planning bids, according to separate sources, are private equity firms Kohlberg Kravis Roberts & Co LP, Bain Capital, BC Partners and Turkish private equity group Turkven. Continued...
In September, Koc said Russian private equity firm Alfa was interested in Migros, but Alfa has not commented publicly since.
Swedish retailer ICA and its parent Ahold have declined to comment on reports that ICA would bid.