Turkey’s Godiva inks deal for rights in 4 countries
World-famous chocolate maker God va, now under Turk sh ownersh p, has made a deal for reta l and d str but on n four As a-Pac f c countr es. As an pr vate equ ty f rm MBK Partners w ll purchase reta l and d str but on operat ons from Turkey’s Y ld z Hold ng n four of God va’s 100-plus markets - Japan, South Korea, Austral a, and the future r ghts to develop New Zealand the compan es announced on February 20. The deal also ncludes God va’s product on fac l ty
n Brussels, wh ch suppl es products to these markets. God va w ll cont nue to source products from the Belg an plant, and all rema n ng markets w ll cont nue to be owned and operated by God va. In 2007, Istanbul-based Y ld z Hold ng bought the Belg an chocolate producer for $850 m ll on and n 2014 bought Br ta n’s Un ted B scu ts for $2.63 b ll on. Murat Ulker, the cha rman of Y ld z Hold ng, called the deal an deal solut on that prov des the momentum to fuel expans on n h gh potent al areas. Ann e Young-Scr vner, the CEO of God va Chocolat er, sa d the deal w ll help the company execute ts growth strategy.
Valeura gas exploration in Thrace continues
Canada’s Valeura Energy spudded a second well to appra se ts 2017 Yamal k-1 d scovery n the Thrace bas n of northwestern Turkey, the company announced on February 21. The company started dr ll ng the Devep nar-1 well, located around
20 k lometers west of the f rst appra sal well, Inanl -1, wh ch awa ts test ng. The Canad an company sa d the new well w ll test the lateral extent of the bas n-centered gas accumulat on play to the western s de of the bas n. “G ven the success of Inanl -1 n demonstrat ng the presence of overpressured gas down to approx mately 4,900 meters, Devep nar-1 s currently plann ng to focus on the most prom s ng ntervals, wh ch are shallower,” the company sa d. Well dr ll ng s planned to 4,300 meters and w ll take approx mately 80 days. “Success here would val date our thes s that the Bas n Centered Gas Accumulat on (BCGA) s pervas ve across the major ty of our acreage,” Sean Guest, pres dent and CEO of Valeura commented.