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.

End

26.03.2018 09:09
 
 
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