Galatasaray Spor ve Futbol Isletmeciligi Ticaret A.S. agreed to acquire 49.9% stake in Galatasaray Magazacilik ve Perakendecilik AS from Galatasaray Sportif Sinai ve Ticari Yatirimlar A.S. (IBSE:GSRAY) for TRY 75 million in cash on May 28, 2015. Galatasaray Sportif Sinai ve Ticari Yatirimlar A.S. will use divestiture profit in company's operations. Galatasaray Spor ve Futbol Isletmeciligi Ticaret A.S. cancelled the acquisition of 49.9% stake in Galatasaray Magazacilik ve Perakendecilik AS from Galatasaray Sportif Sinai ve Ticari Yatirimlar A.S. (IBSE:GSRAY) on May 28, 2016.