ISTANBUL - Turkey's leading electronic retailer Teknosa has expanded beyond Turkey's borders.
Teknosa, a company owned by Sabanci Holding, made an agreement to buy 51 percent shares of Primex, leading electronic retailer in Romania.
The head of the Sabanci Holding's Food and Retail Trading Group Haluk Dincer said on Thursday that Romania will join the European Union in 2007. "So we enter this market as the first step of our strategy to become a regional power. Our goal is to share Teknosa's experience in electronic retail trade with Romania."
Romanian Primex's revenue in 2005 was 41 million USD and it has 62 stores across the country. Meanwhile, Teknosa has 140 stores and 2000 employees across Turkey, aiming to have 500 million USD revenue by the end of the year 2006.