Carlyle Group buys stake in Turkish lingerie chain

Carlyle Group, the US private-equity firm in which Abu Dhabi’s Mubadala Development Company owns a 7.5 percent stake, has acquired a minority stake a Turkish hosiery company, it was announced on Wednesday.

Istanbul-based Penti, a hosiery manufacturer and retailer of women’s hosiery, lingerie and swimwear in Turkey, also has 11 outlets in Saudi Arabia, including Dammam, Riyadh and Jeddah.

While the size of the minority stake was not disclosed, financing for this investment came from Carlyle MENA Partners’s US$500m fund focused on the Middle East and North Africa. The transaction is due to be closed in early November, the statement said.

Worldwide Penti employs 1,847 people and has 155 stores in Turkey and 39 stores in 16 countries.

Last month, Carlyle hit the headlines when it struck two multi-billion dollar deals, including stakes in photo agency US-based Getty Images and China’s largest private medical check-up services company.

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