Announced
Financials
Tags
Majority
retail banking
corporate banking
Banks
Turkey
Acquisition
Public
Friendly
Pending
Single Bidder
Domestic
Synopsis
Koc Holding, the largest industrial conglomerate in Turkey, agreed to acquire an 18% stake in Yapi Kredi Bank, a Turkish bank, from UniCredit, an Italian global banking and financial services company, for $347m. As a result, Koç will buy shares in YKB corresponding to 18% of the issued share capital of YKB for a total consideration of $347m at the current exchange rate, while the remaining 2% is expected to be sold on the market.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.