Turkish Migros, the leading retail group in Turkey (no relation with swiss Migros except brand name rights) sells the discount division Şok (Shock) to Ulker Group (owner of Godiva also known as Yildiz Holding) for 600 million TRL (380 mill. USD). Migros is owned by a group of private equity funds led by BC Partners who has expressed their plan to exit earlier this year. Migros group has three seperate brands of chains in Turkey, Migros, Tansas and Shock. Ulker group on the other hand owns Bizim Market a cash and carry chain and also has stakes in leading hard discount chain in Turkey BIM. In fact major shareholder of BIM has family ties with Ulker family.

Shock  has 1230 stores. Previously formetted as a soft discounter, Shock recently started a transformation process to reposition itself as a hard discounter copying BIM. .

The transaction will be completed after the approval of Turkish Competition Board.