Salt Bae Owner’s Qatari Deal Is Said to Value Mall at $1 Billion - Bloomberg
Billionaire Ferit Sahenk’s Dogus Holding AS agreed to sell a 30% stake in a high-end Istanbul shopping center to an arm of Qatar’s sovereign wealth fund, as the Turkish conglomerate raises cash to deliver on pledges it made to banks as part of a debt restructuring last year.
Dogus, owner of a steakhouse known for its founder chef’s meme Salt Bae, will get around $300 million for the stake in IstinyePark, according to people with knowledge of the matter. The deal values the mall at $1 billion, they said, asking not to be named because the information is confidential.
Istanbul-based Dogus will likely use the proceeds to meet its obligations under the 2019 debt agreement, in which it committed to sell assets to repay creditors, the people said. A filing on the Turkish Competition Board’s website said Monday the sale by a Dogus unit to Qatar Holding was approved, without giving details of the deal.
Dogus declined to comment. The Qatar Investment Authority, which owns Qatar Holding, didn’t immediately respond to a request for comment.
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