Wednesday, 24 April 2024
Russia's Sberbank looks to sell its Turkish unit Denizbank
Russia’s Sberbank is evaluating opportunities to sell its Turkish unit Denizbank , five sources close to the matter told Reuters.
Banks from Gulf countries and China had expressed interest in buying Sberbank’s 99.85 percent holding in the Turkish lender, three of the sources said.
Sberbank, bought Denizbank in 2012 for around $3.5 billion as it was trying to establish a presence abroad. It did not immediately reply to a request for comment, while Denizbank declined to comment on the issue.
“Work on the sales process has been accelerated. Potential buyers have expressed their interest to the bank,” one of the sources close to the matter said.
“Sberbank wants to exit. We know that Emirates NBD is among those interested, a bank from Kazakhstan as well,” another source knowledgable about the issue said.
Re-disseminated by The Asian Banker from Reuters
