Walmart is reportedly in talks to acquire a controlling stake in Migros Ticaret, Turkey’s biggest retailer by sales. Migros currently operates nearly 890 outlets across the country, and such a deal would give Walmart a major presence in one of the world’s fastest-growing retail markets.

The reports noted that Walmart is looking to pick up the 80% stake in Migros owned by private equity group BC Partners. The reports adding that while Walmart has not submitted a formal bid, it has held meetings with Migros managers in recent days. The deal is expected to value Migros at more than $4bn (including debt).

The reports noted that the private equity fund is also holding in talks with other retailers as it seeks to sell its stake, and is believed to have received “several expressions of interest”.

NamNews