PRESS: Sberbank to sell Denizbank for $5.5 bln in JulSep - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

PRESS: Sberbank to sell Denizbank for $5.5 bln in JulSep

MOSCOW, Mar 26 (PRIME) -- Russian national top lender Sberbank may sell its Turkish subsidiary Denizbank to Dubais bank Emirates NBD for U.S. $5.5 billion and close the deal in JulySeptember, Kommersant business daily reported Monday citing sources close to Sberbank.

Sberbanks head German Gref received a commercial offer not connected with politics from Emirates NBD exactly at the moment, when he was theoretically considering a Denizbank sale due to sanctions risks, one of the sources said.

Emirates NBD is the largest bank of the United Arab Emirates (UAE) in terms of assets and is actively developing international direction. The bank currently operates in the UAE, Egypt, Saudi Arabia, India, Singapore, the U.K., and has representative offices in China and Indonesia. Entering the Turkish market is in line with the banks international expansion, one of the sources said.

The sides plan to finally determine the price and receive an approval by the Turkish regulator by mid-April.


26.03.2018 09:09
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 70.7245 -0.3841 06 dec
USD 63.8135 -0.3813 06 dec
Stock Market Indices
1D 1W 1M 1Y
rtsi 1430.39 +0.03 18:50 05 dec
micex 2899.29 -0.05 18:50 05 dec
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 246.36 -1.03 18:49 05 dec
lkoh 6121.50 +0.80 18:49 05 dec
rosn 438.40 -0.85 18:48 05 dec
sber 231.71 +0.05 18:48 05 dec
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 70.7950 +0.0700 14:59 05 dec
USDTD 63.7825 -0.1125 17:44 05 dec