Yildiz Holding, the owner of McVitie's biscuits and Godiva chocolates, has hit out at claims made in an article printed in the New York Times.
The January 2nd article, Spurning Erdogan’s Vision, Turks Leave in Droves, Draining Money and Talent, by journalist Carlotta Gall, claimed that Turkish businesses, entrepreneurs and wealthy individuals are leaving the country 'in a way that indicates a broad and alarming loss of confidence in Mr. Erdogan’s vision'.
In reference to Yildiz in particular, the author claimed that the business 'rescheduled $7 billion of debt and sold shares of its Turkish biscuit maker, Ulker, to its London-based holding company, essentially transferring the family’s majority holding of Ulker out of reach of Turkish courts'.
