Published On: Tue, Jan 30th, 2018

DenizBank confirms negotiations have begun with Emirates NBD on sale of shares




DenizBank confirms negotiations have begun with Emirates NBD on sale of shares

Denizbank, Turkey – BusinessTurkeyToday.com

DenizBank has announced it has begun negotiations with Emirates NBD on sale of shares. The following information was shared in a statement made by the Bank to KAP (Public Disclosure Platform): “Sberbank has stated that it has started strategic discussions with Emirates NBD regarding DenizBank, including the option of purchasing shares in DenizBank by Emirates NBD.”

It is reported that negotiations are still at an early stage and it is unclear how the process will end. Sberbank also stated that it was evaluating the potential opportunities on different markets regularly and that there was no further explanation unless there was a significant improvement in regards.

DenizBank is Turkey’s ninth largest bank in terms of asset size. In 2012, Sberbank had bought DenizBank from Dexia SA for 3.5 billion dollars.

The Dubai-based Emirates NBD Bank also made a statement and announced that it was starting strategic negotiations with Sberbank for possible acquisition of shares from DenizBank.

The Emirates NBD statement said talks with Sberbank were still at an early stage and it was unclear whether the talks would result in an agreement. Based on report on media, a Chinese bank is also interested in DenizBank.





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