ADQ to acquire a 96% stake in Odeabank from Bank Audi.

ADQ, an Abu Dhabi-based investment and holding company, agreed to acquire a 96% stake in Odeabank, a mid-sized bank in Turkey, from Bank Audi, a Lebanese bank. Financial terms were not disclosed. "The acquisition of Odeabank reinforces our commitment to investing in assets that lay the foundation for the sustainable development of our portfolio companies as well as the wider economy. As part of ADQ, Odeabank will have access to fresh capital, which will allow the company to unlock synergies with our wider portfolio, underpinned by attractive market dynamics in Türkiye. We are confident that this will accelerate the execution of Odeabank’s growth plans, while driving technological innovation in the financial services sector," Mansour AlMulla, ADQ Deputy Group CEO.