Turkey's Memorial Group sets eye on the rival Universal Group

Memorial Group, one of Turkey’s hospital chains has set its eye on the rival Universal Group, according to a top executive of the latter. Over the last four months Memorial and Universal have been negotiating a deal for over 51 percent of shares of Universal with the result...

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Turkey's Memorial Group sets eye on the rival Universal Group



Balkans.com Business News Correspondent - 16.01.2013

Memorial Group, one of Turkey’s hospital chains has set its eye on the rival Universal Group, according to a top executive of the latter. Over the last four months Memorial and Universal have been negotiating a deal for over 51 percent of shares of Universal with the result of acquisitions expected to be finalized Feb. 13, said Universal Group Chairman Esat Erkuş.

The group, comprised of German hospitals, has been caught in a downswing with the delays of salary payments and the resignation of high executives. The group hasn’t paid employees their last two months salaries due to the postponement of the capital increase to February, according to Erkuş, Hurriyet Daily News report.


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