Emirates NBD buys Turkey's Denizbank for $3.2 billion from Sberbank | Reuters:
"Dubai’s biggest lender Emirates NBD ENBD.DU has agreed to buy Turkey’s Denizbank from Russia’s state-owned Sberbank (SBER.MM) for $3.2 billion to help establish itself as a leading bank in the Middle East, North Africa and Turkey.
Denizbank is the fifth-largest private bank in Turkey and the biggest asset held by Sberbank outside Russia. The sale is part of a strategy by Russia’s top lender to divest overseas businesses to focus on its domestic market.
The deal is the biggest ever acquisition by Emirates NBD, which had said in January it was in talks to buy the Russian lender’s stake in Denizbank.
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