ENERGY - Local firm to sell stake in bank to Azeri firm:
"Turkey’s Aksoy Holding plans to sell a majority stake of TAIB Bank, which it acquired from the Dubai Sheikh last year, to an Azeri group, the chairman of Aksoy Holding has said.
Erdal Aksoy Holding planned to increase the bank’s capital by 80 million Turkish Liras and sell its majority stake to an Azeri Bank, the Chairman Erdal Aksoy said, without declaring the name of the company.
Aksoy Holding bought Turkish subsidiary of TAIB Bank, owned by Dubai Sheikh al-Maktoum, last June. The company applied to the banking sector watchdog BDDK for a capital increase. After the BDK approves its application, Aksoy Holding is expected to accelerate sale talks with the Azeri bank. "
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