Turkish drinks company Mey Içki, the maker of raki, the country’s most famous tipple, said on Thursday U.S. private equity firm Texas Pacific Group had bought 90 percent of the firm.

Mey Içki management board chairman Hüsnü Dogan told a news conference the deal valued teh company at $900 million.In April Mey said it had sealed a strategic cooperation deal with Texas Pacific but it gave no financial details for the accord with one of the largest private equity firms.

“Approval has been received from the competition board and the ... alcholic drinks’ market regulatory body for the signed agreement and the transfer of shares has taken place,” Dogan said.

He said the Turkish consortium of Nurol, Limak, Ozaltin and Tutsab would retain a 10 percent stake of the company.

The consortium bought Mey Içki, the alcoholic drinks arm of the Turkish state alcohol and tobacco company Tekel, in February 2004 in a privatization tender for $292 million.

Nurol, Limak and Ozaltin had each held 29 percent of the company while Tutsab had a 13 percent stake.

Foreign investment in Turkey, which is targeting 5 percent economic growth this year, has increased sharply since talks for European Union membership were launched in October 2005.