Turkish Billionaire Said to Approach QIA for Istanbul Port Sale

Turkish billionaire Ferit Sahenk has approached the Qatar Investment Authority to gauge the wealth fund’s interest in potentially buying a cruise port and shopping mall project in the heart of Istanbul, according to people with knowledge of the matter.

The project — Galataport — was financed partly with a €1.02 billion ($1.1 billion) loan and Sahenk plans to use any proceeds from a potential sale to repay that debt, said the people, who declined to be identified as the talks are private. Talks are at an early stage and a deal may not eventually materialize, they said.

The $1.7 billion ...