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Yildiz Asks Banks for Biggest Ever Turkish Loan

Yildiz Holding, owner of companies including Godiva Chocolates and United Biscuits, requested the largest loan ever from Turkish banks, citing difficulties with an existing finance structure that requires it to make monthly loan repayments that can reach more than $1 billion. In a letter to 10 banks dated Jan. 29, Yildiz asked them to create a consortium, syndication or joint finance group to consolidate their loans to Yildiz. The letter, which was viewed by Bloomberg and verified by two people with direct knowledge of its contents, was signed by Yildiz Holding Chief Financial Officer Mustafa Tercan and Ali Ulker, deputy chairman of the board.

Godiva Reimagines Business in The Digital Age

Successful retailers — and those that want to be — are seeking ways to digitally transform their customer experience in all channels. Whether mobile, in-store or online, these retailers are striving to build a multi-faceted relationship with customers that will keep brands fresh and hold customer interest. Chocolatier Godiva began creating its sweets in Belgium almost a century ago, and today has more than 600 owned boutiques and a retail presence in over 100 countries. The New York-based company is in the process of unifying its selling aspects — online, mobile and in-store — concentrating on its website and mobile views to begin the transformation.

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