Qatar National Bank to Buy Turkey's Finansbank for $2.95 Billion - Bloomberg Business

Qatar National Bank to Buy Turkey's Finansbank for $2.95 Billion - Bloomberg Business:

"Qatar National Bank SAQ, the Gulf country’s biggest lender, agreed to buy National Bank of Greece SA’s stake in its Turkish unit for 2.7 billion euros ($2.95 billion).
The deal to buy NBG’s 99.8 percent holding in Finansbank AS is subject to regulatory approvals and expected to close in the first half of 2016, the Doha-based lender said in an e-mailed statement on Tuesday. State-controlled QNB will finance the purchase with its own funds and will remain "strongly capitalized" after the acquisition, according to the statement.
“This transaction is a significant milestone in QNB’s vision to becoming a Middle East and Africa icon by 2017 and a leading global bank by 2030," Group Chief Executive Officer Ali Ahmed Al-Kuwari said in the statement.
"



'via Blog this'