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| PARTNERSHIP STRUCTURE AND AFFILIATES |
| Migros Türk T.A.Ş. (As of August 31, 2008) |
| Shareholder |
Holding |
Holding (TRY.) |
| Moonlight Perakendecilik
ve Ticaret A.Ş.
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81,59% |
145,262,716.56
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| Other
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18,41% |
32,767,283.44
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| Total |
100,00% |
178.030.000,00 |
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| FOREIGN SUBSIDIARIES |
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| * As of 2007 |
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 Azerbaijan - Ramstore QTSC |
| The Economy, Overall Structure of the Retail Market and Developments |
Ramstore Azerbaijan, which was established in 1996, is the first overseas investment of Migros Türk T.A.Ş. Xatai (Hatay), which is the first store the company opened in 1996, is the first modern supermarket of Azerbaijan. Xatai, the first overseas store of Migros, had to suspend its operations for a while because of the great damage caused by the fire in June 2001. Xatai, re- opened in January 2002 began to service Baku people.
Azerbaijan Ramstore continued to open stores in different formats in the 1996-2000 period and opened 2 more stores in the capital, Baku.
Today Ramstore Azerbaijan continues its operations with 3 stores in different places of the city with 4.746 m² closed area in total. By the end of 2006, total capital of the company was 15 million USD and the amount of YtD capex is 9,2 million USD. The company reached a sales level of 11 million USD in 2006.
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 Kazakhstan – Rambutya LLP. |
| The Economy, Overall Structure of the Retail Market and Developments |
Ramstore Kazakhstan, the third subsidiary of Migros Türk was established in Almaty, the old capital of Kazakhstan in 1998. Samal Shopping Mall, the first store of the company, began its operations in May 1999. The shopping mall, the first of its kind in the city, has been servicing Almaty people on a closed area of 25,000 m² in total with its large product portfolio of imported and domestic products, 55 stores, fast food restaurants, 2 cinemas and a ice-skating rink.
Ramstore Kazakhstan opened 2 new stores, one in Karaganda and one in Almaty, in 2006. Ramstore Kazakhstan, servicing in an area of 23.922 m² with 1 shopping center and 6 stores was awarded with “The Best Shopping Mall and the Best Supermarket” reward in 2003.
Ramstore Kazakhstan’s total capital is 17,3 million dollars by 2006. The 2006 sales turnover of the company which has made an investment of 40,2 million dollars as of 2006 reaches 70,6 million dollars including its Kyrgyzstan operations.
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| Kyrgyzstan – Ramstore Kyrgyzstan Ltd. |
The Economy, Overall Structure of the Retail Market and Developments |
Ramstore Kyrgyzstan DOO was established as a subsidiary of Ramstore Kazakhstan LLP in 2006. Kyrgyzstan is the sixth country in h Migros Türk T.A.Ş. international operations. Ramstore Kyrgyzstan was established on 1 June 2006 and opened its first store in Bishkek on 4 August 2006. Bishkek store has a total closed area of 2.196 m² and a net sales area of 1.459 m2.
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 Bulgaria – Ramstore Bulgaria AD |
The Economy, Overall Structure of the Retail Market and Developments |
Ramstore Bulgaria AD, established in 1999, is MigrosTürk T.A.Ş.’ s third overseas subsidiary and the first subsidiary in Europe. The company with a capital of 19,2 million Euros as of today opened its first store in Zapaden on 18th May 2001.
Zapaden, situated on a closed area of 14.800 m² in total, services the city people with its closed carpark of 210 m² and a fast food area of 500 m².
Ramstore Bulgaria AD opened Dervenitza, its second store in 2002.
Opening Obca Kupel store in 2003, Ramstore Bulgaria increased its total store number to 3 and its total service area to 6.684 m² 2003. 2006 sales of the company is about 7,8 million USD excluding its Macedonia operations.
The company closed its two rented stores in Bulgaria at the beginning of 2007 and stopped its operations in this country by selling one store in its property to another company. However, Ramstore Bulgaria AD will continue to exist as Macedonia operations are consolidated into it.
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 Macedonia – Macedonia DOO |
The Economy, Overall Structure of the Retail Market and Developments |
Ramstore Macedonia DOO was established in 2003 as subsidiary of Ramstore Bulgaria AD; it’s Migros Türk T.A.Ş.’s fifth overseas investment and second investment in Europe. The company which has a capital of 9,2 million Euros as of today opened Ramstore Mall, its first Shopping Center investment on 11 June 2005. With its capex of about 20 million Euros in total, this investment has become one of the biggest Turkish investments in Macedonia. In Ramstore Mall, which has a closed area of 25.000 m² in total, there is a Ramstore Vardar hypermarket with a net sales area of 2.348 m². Ramstore Mall, situated in the city center, services Skopje people with more than 90 stores inside as well as café, restaurant and entertainment areas. Ramstore Macedonia, which opened its second store in Tetovo in 2006 continues its operations with 1 shopping center and 1 store on a closed area of 20.246 m2. 2006 sales of the company is about 17 million USD.
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Foreign Subsidiaries
Azerbaijan - Ramstore QTSC 